I study an optimal design of monetary incentives in experiments where incentives are a treatment variable. I introduce the Budget Minimization problem in which a researcher chooses the level of incentives that allows her to detect a predicted …
We introduce a taxonomy of artificial intelligence (AI) experiments. Our taxonomy produces four types of AI experiments: conceptual AI experiments, stylized AI experiments, quasi-natural AI experiments, and natural AI experiments. At the core of our …
Theoretical work on stochastic choice mainly focuses on the sources of choice randomness, and less on its economic consequences. We close this gap by developing a method of extracting information about the costs of noise from structural estimates of …
We study the dynamics of the selection problem in economic experiments. We show that adding dynamics significantly complicates the effect of the selection problem on external validity and can explain some contradictory results in the literature. We …
An important methodological issue in experimental research is the extent to which one should use context-rich or abstract language in the instructions for an experiment. The traditional use of abstract context in experimental economics is commonly …