normative
Experiments With Endowments Need Replication With Earned Money
Because subjects behave differently with experimenter-provided endowments versus money they earned, earlier experiments using endowed 'experimental money' need to be replicated with earned money to test their robustness -- a methodological correction now underway.
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Speaker
Vernon SmithEvidence Quote
“all those experiments that we did earlier using experimental--experimental money--endowments, need to be replicated, you see, and see how robust they are with exactly this point that you are making, Russ. And that has been happening.”
Created: 6/13/2026, 12:22:45 AM
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