Eliezer_Yudkowsky comments on Financial incentives don't get rid of bias? Prize for best answer. - Less Wrong

3 [deleted] 15 July 2010 01:24PM

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Comment author: Eliezer_Yudkowsky 15 July 2010 10:42:01PM 8 points [-]

Kachelmeier, S.J., & Shehata, M. (1992). Examining risk preferences under high monetary incentives: Experimental evidence from the People's Republic of China. American Economic Review, 82, 1120-1141.

That's what my notes says was the famous experiment which tested some biases, I forget which, in China using offers of up to several months equivalent salary. Just a fast answer grabbed from my notes, I didn't try to Google or check notes for what the experiment was about.

EDIT: Paper here, seems to be about pricing some simple lotteries. http://decisions.epfl.ch/ExpFinance/readings/KachelmeierShehata.pdf