Summary information

Study title

Putting in Effort for the Benefit of All: The Role of Reward and Effort Requirements, 2019-2020

Creator

Ludwiczak, A, University of Greenwich
Adams, Z, Queen Mary University of London
Osman, M, University of Cambridge

Study number / PID

855913 (UKDA)

10.5255/UKDA-SN-855913 (DOI)

Data access

Open

Series

Not available

Abstract

The data folder for the “Putting in effort for the benefit of all: the role of reward and effort requirements” project contains experimental data and project materials. Experimental data The Experimental data consists of one “Data_with_description_RM” file in .xlsx format. This file holds data from the effort task, where participants were required to declare a number of times they wanted to squeeze a handgrip device for group benefit or individual gain before actually completing the task. The file contains: • information about participants’ unique identifier (column A), group allocation (column B), gender (column C), age (column D), the condition they were in (column E), and the pot to which they contributed effort to begin with (column F), information about the number of trials participants intended to contribute to the individual (column H) and public pot (column I) and how many trials they actually contributed to the different pots (individual – column J, group – column K), as well as information about the round of the experiment (column G). Experimental data also includes transcripts from the online chatroom. This includes 36 files in .docx format. The files contain transcripts from the online chats from Round 1 and Round 2 for each group separately. Each chat participant is marked by their unique identifier. Project materials include two files in .docx format: the detailed information sheet given to participants, and the combined brief information sheet and consent form document.The need for new ideas in macroeconomics is evident. Most macroeconomists not only failed to recognise the weaknesses in the global economy before the financial crisis, their main macroeconomic model specifically excluded the possibility of financial vulnerability. Assumptions about human behaviour and how markets operate have undermined the effectiveness of macroeconomics as a guide for practical policy making. The National Institute of Economic and Social Research (NIESR) is the...
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Methodology

Data collection period

01/05/2017 - 29/05/2021

Country

United Kingdom

Time dimension

Not available

Analysis unit

Individual

Universe

Not available

Sampling procedure

Not available

Kind of data

Numeric
Text

Data collection mode

1. Modified Public Goods Game in which participants contributed effort (grip squeezes) instead of tokens.2. Online chatThe details of the methods are as follows:The basic experimental set up was based on an established behavioural economics paradigm of a Public Goods Game. In the standard version of the game participants are given a number of tokens and are then asked to choose how many of these tokens to put into a public pot. The tokens in this pot are then multiplied by a factor (greater than one and less than the number of players) and this ‘public good’ is divided evenly between participants. Two modifications to this game were made in this project: 1) instead of contributing tokens, participants were asked to contribute physical effort (hand grip squeezes), and 2) the amount of effort exerted by participants determined the monetary reward received at the end of the experiment. For practical reasons (equipment limitations), participants were not exerting effort simultaneously, but rather each participant attended the experimental session individually. A group was formed of four participants in a row, and the final payout was depend on their combined performance. The experimental set up was as follows: 1) Each participant was assigned to a group of five people and asked to attend two experimental sessions (Round 1 and Round 2) individually. During each experimental session participants were required to exert effort by squeezing a handgrip device 40 times. Each squeeze was associated with a small monetary reward. Participants had to decide how they wanted to distribute the proceeds from the effort trials – they could keep them for themselves or put them in a public pot. Proceeds in the public pot would be multiplied by 1.5 and divided evenly between all group members.2) Upon arrival to an experimental session, participants were given an opportunity to experience how effortful the task was by squeezing the hand grip device ten times.3) Then, participants were asked to indicate how many effortful trials out of 40 they wanted to complete for their own benefit, and how many they wanted to contribute to the public pot (Intended Contributions). 4) This was followed by the execution phase, during which participants were required to squeeze the handgrip device. They either started by squeezing for individual or group pot, and were told they could switch the pot at any point by pressing the ‘s’ button on a keyboard. Number of trials participants performed for the individual and public pots was recorded (Actual Contributions) 5) After each experimental session, participants took part in an anonymous online chat with other members of their group, where information about individual contributions and group performance (wins) was shared and discussedParticipants: Participants were recruited using Queen Mary Research Volunteers scheme at Queen Mary University of London and the word of mouth. Ninety participants completed the study

Funding information

Grant number

ES/R00787X/1

Access

Publisher

UK Data Service

Publication year

2022

Terms of data access

The Data Collection is available to any user without the requirement for registration for download/access.

Related publications

Not available