To incentivize or not: Impact of blockchain-based cryptoeconmic tokens on human information sharing behavior

Cryptoeconomic incentives in the form of blockchain-based tokens are seen as an enabler of the sharing economy which could shift society towards greater sustainability. Nevertheless, knowledge about the impact of those tokens on human sharing behavior is still limited, which challenges the design of effective cryptoeconomic incentives. This study applies the theory of self-determination to investigate the impact of those tokens on human behavior in an information sharing scenario. By utilising an experimental methodology in the form of a randomized control trial with a 2x2 factorial design involving 132 participants, the effects of two token incentives on human information sharing behavior are analysed. Individuals obtain these tokens in exchange for their shared information. Based on the collected tokens, individuals receive a monetary payment and build reputation. Besides investigating the effect of these incentives on the quantity of shared information, the study includes quality characteristics of information, such as accuracy and contextualisation. The focus on quantity while excluding quality has been identified as a limitation in previous work. Besides confirming previously known effects such as a crowding out of intrinsic motivation by incentives which also exists for blockchain-based tokens, the findings of this work show a until now unreported interaction effect between multiple tokens when applied simultaneously. The findings are critically discussed and put into context of recent work and ethical considerations. The theory-based, empirical study is of interest to those investigating the effect of cryptoeconomic tokens or digital currencies on human behavior and supports the community to design effective personalized incentives for sharing economies.