{"id":"https://openalex.org/W4200301050","doi":"https://doi.org/10.1016/j.econlet.2021.110200","title":"The reinforcement paradox: Monetary incentives and Bayesian updating","display_name":"The reinforcement paradox: Monetary incentives and Bayesian updating","publication_year":2021,"publication_date":"2021-12-24","ids":{"openalex":"https://openalex.org/W4200301050","doi":"https://doi.org/10.1016/j.econlet.2021.110200"},"language":"en","primary_location":{"id":"doi:10.1016/j.econlet.2021.110200","doi":"https://doi.org/10.1016/j.econlet.2021.110200","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.econlet.2021.110200","pdf_url":"https://www.sciencedirect.com/science/article/pii/S0165176521004511/pdf","source":{"id":"https://openalex.org/S36178057","display_name":"Economics Letters","issn_l":"0165-1765","issn":["0165-1765","1873-7374"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economics Letters","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","datacite"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://www.sciencedirect.com/science/article/pii/S0165176521004511/pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5076333923","display_name":"Carlos Al\u00f3s\u2010Ferrer","orcid":"https://orcid.org/0000-0002-1668-9784","observed_orcids":["https://orcid.org/0000-0002-1668-9784"]},"institutions":[{"id":"https://openalex.org/I202697423","display_name":"University of Zurich","ror":"https://ror.org/02crff812","country_code":"CH","type":"education","lineage":["https://openalex.org/I202697423"]}],"countries":["CH"],"is_corresponding":true,"raw_author_name":"Carlos Al\u00f3s-Ferrer","raw_affiliation_strings":["University of Zurich, Switzerland"],"raw_orcid":"https://orcid.org/0000-0002-1668-9784","affiliations":[{"raw_affiliation_string":"University of Zurich, Switzerland","institution_ids":["https://openalex.org/I202697423"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5015434258","display_name":"Johannes Buckenmaier","orcid":"https://orcid.org/0000-0002-2070-6647","observed_orcids":["https://orcid.org/0000-0002-2070-6647"]},"institutions":[{"id":"https://openalex.org/I202697423","display_name":"University of Zurich","ror":"https://ror.org/02crff812","country_code":"CH","type":"education","lineage":["https://openalex.org/I202697423"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"Johannes Buckenmaier","raw_affiliation_strings":["University of Zurich, Switzerland"],"raw_orcid":"https://orcid.org/0000-0002-2070-6647","affiliations":[{"raw_affiliation_string":"University of Zurich, Switzerland","institution_ids":["https://openalex.org/I202697423"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5087933329","display_name":"Michele Garagnani","orcid":"https://orcid.org/0000-0002-2510-7109","observed_orcids":["https://orcid.org/0000-0002-2510-7109"]},"institutions":[{"id":"https://openalex.org/I202697423","display_name":"University of Zurich","ror":"https://ror.org/02crff812","country_code":"CH","type":"education","lineage":["https://openalex.org/I202697423"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"Michele Garagnani","raw_affiliation_strings":["University of Zurich, Switzerland"],"raw_orcid":"https://orcid.org/0000-0002-2510-7109","affiliations":[{"raw_affiliation_string":"University of Zurich, Switzerland","institution_ids":["https://openalex.org/I202697423"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5047050360","display_name":"Alexander Ritschel","orcid":"https://orcid.org/0000-0001-5169-678X","observed_orcids":["https://orcid.org/0000-0001-5169-678X"]},"institutions":[{"id":"https://openalex.org/I202697423","display_name":"University of Zurich","ror":"https://ror.org/02crff812","country_code":"CH","type":"education","lineage":["https://openalex.org/I202697423"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"Alexander Ritschel","raw_affiliation_strings":["University of Zurich, Switzerland"],"raw_orcid":"https://orcid.org/0000-0001-5169-678X","affiliations":[{"raw_affiliation_string":"University of Zurich, Switzerland","institution_ids":["https://openalex.org/I202697423"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5076333923"],"corresponding_institution_ids":["https://openalex.org/I202697423"],"apc_list":{"value":2000,"currency":"USD","value_usd":2000},"apc_paid":{"value":2000,"currency":"USD","value_usd":2000},"fwci":0.1675,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":{"value":0.50707547,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":93},"biblio":{"volume":"211","issue":null,"first_page":"110200","last_page":"110200"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9247999787330627,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9247999787330627,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.07339999824762344,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10042","display_name":"Neural and Behavioral Psychology Studies","score":0.0010000000474974513,"subfield":{"id":"https://openalex.org/subfields/2805","display_name":"Cognitive Neuroscience"},"field":{"id":"https://openalex.org/fields/28","display_name":"Neuroscience"},"domain":{"id":"https://openalex.org/domains/1","display_name":"Life Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-incentives","display_name":"financial incentives","score":0.9940000176429749},{"id":"https://openalex.org/keywords/bayesian-updating","display_name":"Bayesian updating","score":0.9959999918937683},{"id":"https://openalex.org/keywords/win-stay-lose-shift","display_name":"win-stay lose-shift","score":0.7870000004768372},{"id":"https://openalex.org/keywords/reinforcement-learning","display_name":"reinforcement learning","score":0.671999990940094},{"id":"https://openalex.org/keywords/decision-making","display_name":"decision-making","score":0.5270000100135803}],"concepts":[{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.9097796678543091},{"id":"https://openalex.org/C67203356","wikidata":"https://www.wikidata.org/wiki/Q1321905","display_name":"Reinforcement","level":2,"score":0.7844538688659668},{"id":"https://openalex.org/C107673813","wikidata":"https://www.wikidata.org/wiki/Q812534","display_name":"Bayesian probability","level":2,"score":0.6704479455947876},{"id":"https://openalex.org/C97541855","wikidata":"https://www.wikidata.org/wiki/Q830687","display_name":"Reinforcement learning","level":2,"score":0.5751991271972656},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5173889398574829},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.42256608605384827},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3223934769630432},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.2226945161819458},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.1747102439403534},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.14886519312858582}],"mesh":[],"locations_count":6,"locations":[{"id":"doi:10.1016/j.econlet.2021.110200","doi":"https://doi.org/10.1016/j.econlet.2021.110200","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.econlet.2021.110200","pdf_url":"https://www.sciencedirect.com/science/article/pii/S0165176521004511/pdf","source":{"id":"https://openalex.org/S36178057","display_name":"Economics Letters","issn_l":"0165-1765","issn":["0165-1765","1873-7374"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economics Letters","raw_type":"journal-article"},{"id":"pmh:oai:www.zora.uzh.ch:229742","doi":null,"is_oa":true,"landing_page_url":"https://www.zora.uzh.ch/id/eprint/229742/1/1_s2.0_S0165176521004511_main.pdf","pdf_url":"https://www.zora.uzh.ch/id/eprint/229742/1/1_s2.0_S0165176521004511_main.pdf","source":{"id":"https://openalex.org/S4306401281","display_name":"Zurich Open Repository and Archive (University of Zurich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I202697423","host_organization_name":"University of Zurich","host_organization_lineage":["https://openalex.org/I202697423"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"Alos-Ferrer, Carlos; Buckenmaier, Johannes; Garagnani, Michele; Ritschel, Alexander (2022). The reinforcement paradox: monetary incentives and Bayesian updating. Economics Letters, 211:110200.","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:RePEc:eee:ecolet:v:211:y:2022:i:c:s0165176521004511","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0165176521004511","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:eprints.lancs.ac.uk:221586","doi":null,"is_oa":false,"landing_page_url":"https://eprints.lancs.ac.uk/id/eprint/221586/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401916","display_name":"Lancaster EPrints (Lancaster University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I67415387","host_organization_name":"Lancaster University","host_organization_lineage":["https://openalex.org/I67415387"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Journal Article"},{"id":"pmh:oai:www.zora.uzh.ch:20.500.14742/204767","doi":null,"is_oa":true,"landing_page_url":"https://www.zora.uzh.ch/handle/20.500.14742/204767","pdf_url":null,"source":{"id":"https://openalex.org/S4306401281","display_name":"Zurich Open Repository and Archive (University of Zurich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I202697423","host_organization_name":"University of Zurich","host_organization_lineage":["https://openalex.org/I202697423"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Alos-Ferrer, C., Buckenmaier, J., Garagnani, M., & Ritschel, A. (2022). The reinforcement paradox: monetary incentives and Bayesian updating. Economics Letters, 211, 110200. https://doi.org/10.1016/j.econlet.2021.110200","raw_type":"Journal Article"},{"id":"doi:10.5167/uzh-229742","doi":"https://doi.org/10.5167/uzh-229742","is_oa":true,"landing_page_url":"https://doi.org/10.5167/uzh-229742","pdf_url":null,"source":{"id":"https://openalex.org/S4306401281","display_name":"Zurich Open Repository and Archive (University of Zurich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I202697423","host_organization_name":"University of Zurich","host_organization_lineage":["https://openalex.org/I202697423"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"}],"best_oa_location":{"id":"doi:10.1016/j.econlet.2021.110200","doi":"https://doi.org/10.1016/j.econlet.2021.110200","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.econlet.2021.110200","pdf_url":"https://www.sciencedirect.com/science/article/pii/S0165176521004511/pdf","source":{"id":"https://openalex.org/S36178057","display_name":"Economics Letters","issn_l":"0165-1765","issn":["0165-1765","1873-7374"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economics Letters","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G651071977","display_name":"The Neuroeconomics of Conflict and Preference Strength in Decision Making","funder_award_id":"179009","funder_id":"https://openalex.org/F4320320924","funder_display_name":"Schweizerischer Nationalfonds zur F\u00f6rderung der Wissenschaftlichen Forschung"}],"funders":[{"id":"https://openalex.org/F4320306076","display_name":"National Science Foundation","ror":"https://ror.org/021nxhr62"},{"id":"https://openalex.org/F4320320924","display_name":"Schweizerischer Nationalfonds zur F\u00f6rderung der Wissenschaftlichen Forschung","ror":"https://ror.org/00yjd3n13"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4200301050.pdf","grobid_xml":"https://content.openalex.org/works/W4200301050.grobid-xml"},"referenced_works_count":12,"referenced_works":["https://openalex.org/W1970551465","https://openalex.org/W1985666788","https://openalex.org/W2047970714","https://openalex.org/W2108561834","https://openalex.org/W2123930170","https://openalex.org/W2146868725","https://openalex.org/W2157029843","https://openalex.org/W2168112513","https://openalex.org/W2347004359","https://openalex.org/W3121874449","https://openalex.org/W3202749896","https://openalex.org/W3209527199"],"related_works":["https://openalex.org/W3209527199","https://openalex.org/W4313591262","https://openalex.org/W2157029843","https://openalex.org/W3123770526","https://openalex.org/W7011531049","https://openalex.org/W7155366432","https://openalex.org/W2135829226","https://openalex.org/W2080054997","https://openalex.org/W2168112513","https://openalex.org/W7220676579"],"abstract_inverted_index":{"We":[0,29,61],"report":[1],"the":[2,11,33,70,80],"results":[3],"of":[4,35,82],"two":[5,41],"pre-registered":[6],"experiments":[7],"designed":[8],"to":[9,18],"study":[10],"reinforcement":[12,48,77],"paradox:":[13],"increased":[14,44,53],"incentives":[15,39,66,83],"often":[16],"fail":[17],"increase":[19,67],"and":[20,52],"sometimes":[21],"even":[22],"decrease":[23],"performance":[24,54,68],"in":[25,32],"Bayesian":[26,59],"updating":[27],"tasks.":[28],"argue":[30],"that,":[31],"presence":[34],"win/loss":[36,71],"cues,":[37],"higher":[38],"have":[40],"countervailing":[42],"effects:":[43],"error":[45],"rates":[46],"for":[47,55],"behavior":[49],"(win-stay,":[50],"lose-shift)":[51],"decisions":[56],"resulting":[57],"from":[58],"updating.":[60],"find":[62],"some":[63],"evidence":[64],"that":[65],"when":[69,76],"cue":[72],"is":[73,78],"removed":[74],"whereas":[75],"active":[79],"effects":[81],"are":[84],"mixed.":[85]},"counts_by_year":[{"year":2023,"cited_by_count":1}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2021-12-31T00:00:00"}
