Time as a Medium of Reward in Three Social Preference Experiments

C.N. Noussair, J.T.R. Stoop

Research output: Working paperDiscussion paperOther research output

368 Downloads (Pure)

Abstract

Abstract: We report results from three well-known experimental paradigms, where we use time, rather than money, as the salient component of subjects’ incentives. The three experiments, commonly employed to study social preferences, are the dictator game, the ultimatum game and the trust game. All subjects in a session earn the same participation fee, but their choices affect the time at which they are permitted to leave the laboratory, with decisions typically associated with greater own payoff translating into an earlier departure. The modal proposal in both the dictator and ultimatum games is an equal split of the waiting time. In the trust game, there is substantial trust and reciprocity. Overall, social preferences are evident in time allocation decisions. Received laboratory results from dictator, ultimatum, and trust games are robust to the change in reward medium, though there is some suggestive evidence that decisions are even more prosocial with respect to time than money.
Original languageEnglish
Place of PublicationTilburg
PublisherEconomics
Number of pages26
Volume2012-068
Publication statusPublished - 2012

Publication series

NameCentER Discussion Paper
Volume2012-068

Fingerprint

Social preferences
Ultimatum game
Trust game
Dictator game
Experiment
Reward
Participation
Paradigm
Incentives
Fees
Time allocation
Waiting time

Keywords

  • dictator game
  • ultimatum game
  • trust game
  • time

Cite this

Noussair, C. N., & Stoop, J. T. R. (2012). Time as a Medium of Reward in Three Social Preference Experiments. (CentER Discussion Paper; Vol. 2012-068). Tilburg: Economics.
Noussair, C.N. ; Stoop, J.T.R. / Time as a Medium of Reward in Three Social Preference Experiments. Tilburg : Economics, 2012. (CentER Discussion Paper).
@techreport{39363f50eacb4badb510c50528e63dfe,
title = "Time as a Medium of Reward in Three Social Preference Experiments",
abstract = "Abstract: We report results from three well-known experimental paradigms, where we use time, rather than money, as the salient component of subjects’ incentives. The three experiments, commonly employed to study social preferences, are the dictator game, the ultimatum game and the trust game. All subjects in a session earn the same participation fee, but their choices affect the time at which they are permitted to leave the laboratory, with decisions typically associated with greater own payoff translating into an earlier departure. The modal proposal in both the dictator and ultimatum games is an equal split of the waiting time. In the trust game, there is substantial trust and reciprocity. Overall, social preferences are evident in time allocation decisions. Received laboratory results from dictator, ultimatum, and trust games are robust to the change in reward medium, though there is some suggestive evidence that decisions are even more prosocial with respect to time than money.",
keywords = "dictator game, ultimatum game, trust game, time",
author = "C.N. Noussair and J.T.R. Stoop",
note = "Pagination: 26",
year = "2012",
language = "English",
volume = "2012-068",
series = "CentER Discussion Paper",
publisher = "Economics",
type = "WorkingPaper",
institution = "Economics",

}

Noussair, CN & Stoop, JTR 2012 'Time as a Medium of Reward in Three Social Preference Experiments' CentER Discussion Paper, vol. 2012-068, Economics, Tilburg.

Time as a Medium of Reward in Three Social Preference Experiments. / Noussair, C.N.; Stoop, J.T.R.

Tilburg : Economics, 2012. (CentER Discussion Paper; Vol. 2012-068).

Research output: Working paperDiscussion paperOther research output

TY - UNPB

T1 - Time as a Medium of Reward in Three Social Preference Experiments

AU - Noussair, C.N.

AU - Stoop, J.T.R.

N1 - Pagination: 26

PY - 2012

Y1 - 2012

N2 - Abstract: We report results from three well-known experimental paradigms, where we use time, rather than money, as the salient component of subjects’ incentives. The three experiments, commonly employed to study social preferences, are the dictator game, the ultimatum game and the trust game. All subjects in a session earn the same participation fee, but their choices affect the time at which they are permitted to leave the laboratory, with decisions typically associated with greater own payoff translating into an earlier departure. The modal proposal in both the dictator and ultimatum games is an equal split of the waiting time. In the trust game, there is substantial trust and reciprocity. Overall, social preferences are evident in time allocation decisions. Received laboratory results from dictator, ultimatum, and trust games are robust to the change in reward medium, though there is some suggestive evidence that decisions are even more prosocial with respect to time than money.

AB - Abstract: We report results from three well-known experimental paradigms, where we use time, rather than money, as the salient component of subjects’ incentives. The three experiments, commonly employed to study social preferences, are the dictator game, the ultimatum game and the trust game. All subjects in a session earn the same participation fee, but their choices affect the time at which they are permitted to leave the laboratory, with decisions typically associated with greater own payoff translating into an earlier departure. The modal proposal in both the dictator and ultimatum games is an equal split of the waiting time. In the trust game, there is substantial trust and reciprocity. Overall, social preferences are evident in time allocation decisions. Received laboratory results from dictator, ultimatum, and trust games are robust to the change in reward medium, though there is some suggestive evidence that decisions are even more prosocial with respect to time than money.

KW - dictator game

KW - ultimatum game

KW - trust game

KW - time

M3 - Discussion paper

VL - 2012-068

T3 - CentER Discussion Paper

BT - Time as a Medium of Reward in Three Social Preference Experiments

PB - Economics

CY - Tilburg

ER -

Noussair CN, Stoop JTR. Time as a Medium of Reward in Three Social Preference Experiments. Tilburg: Economics. 2012. (CentER Discussion Paper).