ICES Brown Bag for October 18

Events, Seminars | October 13, 2017

Join us for the next ICES Brown Bag Lecture of the semester, featuring Jingnan Chen.

Prof. Chen, of the University of Exeter, will discuss her paper (co-authored by Miguel A. Fonseca and Shaun B. Grimshaw)
Using Norms and Monetary Incentives to Change Behavior: A Field Experiment (Abstract). The talk will take place on Wednesday, October 18th, from 12:00 to 1:00pm, in room 5075 of the Vernon Smith Hall (formerly Metropolitan Building), Arlington campus.

Coffee and dessert will be provided.

Please visit the Brown Bag Schedule to learn more about the Brown Bag series.

Abstract

Using a two-day field experiment with 739 subjects, we study the effect of norms and monetary incentives on curbing undesirable behaviors and promoting desirable ones. We vary both the monetary incentives (reward or fine) and the descriptive social norm (what people actual do) to investigate their effects on the arriving on time/late for an economic experiment. We find that: 1) on average, punctual types are more likely to remain punctual and are less responsive to either descriptive social norms or monetary incentives measures than late types; 2) monetary incentives interact with descriptive social norms in motivating behaviors – when the descriptive social norm matches the player type, both fine and reward are effective in promoting punctuality, and when the descriptive social norm mismatches the player type, only fine (reward) would motivate late (punctual) type to arrive on time; 3) there is a significant complementarity between descriptive social norm and fine, but not reward. Finally, our results can be explained by a model incorporating innate preference for punctuality and descriptive social norm.

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