A Comparative Study Ot Payment Methods In Experimental Economics

The purpose of this paper is to explore whether using different means of payment to the participants in the experiment will have an impact on the results of the experimental economics.Sixty students from Shandong University were recruited to participate in the experiment.It was designed that the control group using cash payment method and the experimental group using mobile payment method to pay compensation.Classical experimental economic methods,such as dictator game,ultimatum games and risk appetite,were carried out,and questionnaires were conducted to participants at the end of the experiment.Through descriptive statistics,nonparametric tests and regression analysis of the experimental,the use of mobile payment has a significant impact on the experimental results of the dictator game,and the decision makers in the dictator game will allocate more money to the recipient.However,in ultimatum game and risk appetite,the use of mobile payment has no obviously influence on the decision of the participants.