How financial incentives and cognitive abilities affect task performance in laboratory settings: an illustration

Drawing on Gneezy and Rustichini [Q.J. Econ. 115 (2000) 791], we show that cognitive abilities seem at least twice as important as financial incentives. This result backs up the exhortation of Camerer and Hogarth [J. Risk Uncertain. 19 (1999) 7] to pay attention to both the labor and capital aspects of cognitive production in experiments