Monetary incentives raise solution rates a little, but not that much. Lex Borghans and co-authors manipulate small incentives and they do almost nothing. Ben Enke and co-authors offers a full month's salary to Nairobi based undergrads and finds a 13% percentage point increase in solution rates.
I'm not sure how our manipulations would interact with monetary incentives. But I'd like to know!
'A bat and a ball cost $110 in total.
The bat costs $100 more than the ball.
How much does the ball cost?
The answer is $5.
Please enter the number 5 in the blank below.
$_____'
That question is from one of 59 new studies (N = 72,310) which focus primarily on the “bat and ball problem," found in The formation and revision of intuitions - ScienceDirect by Andrew Meyer and Shane Frederic.
23% of respondents failed to give the correct answer.
I don't have anything insightful to say but wanted to share because it seems worth knowing.
Additionally, I'm not exactly sure how (and how much) I should update about this.
(Edit: I initially posted the wrong question)