Seminar on Behavioral and Experimental Economics (Session 4)
[Time] June 12, 2019 (Wednesday) 12:00-13:30
[Location] Room 729, Mingde Main Building
[topic] Goalsetting, effort provision and performance: A field experiment
[Leader] Weng Yi (Assistant Professor, School of Labor and Human Resources, Renmin University of China)
[Moderator] Sun Wenkai (Professor, School of Economics, Renmin University of China)
[Reviewer] Wang Xianghong (Professor, School of Economics, Renmin University of China)
[Learning summary] Goal setting may be a low-cost, scalable and logistically simple commitment device to help people self-regulate their behavior, and increase their effort and pyramid improve their performance. By conducting a field experiment in college physical training course, we Investing the effects of goal setting and goal design features on effort provision in training and tests and on their performance. We exogenously vary whether or not a goal is set and whether or not the goal is set based on accurately knowing one’s ability. When students know their precise ability, goal setting significant raises test performance. Goal setting also significant raises test effort, especially when students do not know their precise ability.
[Introduction to the keynote speaker] Weng Yi, assistant professor at the School of Labor and Human Resources, Renmin University of China. He graduated from the University of Gothenburg in Sweden in 2014 with a Ph.D. in economics. His research interests are labor economics, behavioral and experimental economics. He has published many papers in international academic journals such as Journal of Public Economics, China Economic Review, Journal of Forest Economics, and Singapore Economic Review. He has presided over projects such as the National Natural Science Foundation of China and the Research Fund of the People’s University of China.