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Yan Chen, Xin Li, Jeffrey K MacKie-Mason

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We implemented the first web-based online field experiments of fund-raising. We embedded our experiment in the Internet Public Library to test four mechanisms: Voluntary Contribution (VCM), Premium, Seed Money and Matching. Although the gift size is not significantly different across mechanisms, the Seed and Matching mechanisms each generate significantly higher user click-through response rate than the Premium mechanism. Because this is one of the earliest embedded, web-based field experiments, we report our methodology findings in some detail. Cookies work better as participant assignment techniques than pop-up windows and elicitation of geographic information. Participant clickstream data that nominally demonstrate a desire to donate is a poor predictor of actual giving.

Yan Chen, Peter Cramton, John A List, Axel Ockenfels

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We review past research and discuss future directions on how the vibrant research areas of market design and behavioral economics have influenced and will continue to impact the science and practice of management in both the private and public sectors. Using examples from various auction markets, reputation and feedback systems in online markets, matching markets in education, and labor markets, we demonstrate that combining market design theory, behavioral insights, and experimental methods can lead to fruitful implementation of superior market designs in practice.