Recently, researchers have begun using online labor markets to recruit participants for experimental studies examining the judgments and decisions of nonprofessional investors. This study investigates the quality and generalizability of data collected from these sources by replicating an experimental task from Elliott, Hodge, Kennedy, and Pronk (2007) using nonprofessional investor participants from two popular online labor markets—Amazon's Mechanical Turk (MTurk) and Qualtrics Online Sample (Qualtrics). Compared to Qualtrics participants, we find that MTurk participants pay greater attention to the experimental materials and better acquire and recall information. Further, the MTurk sample more closely replicates EHKP's investment club member results on measures of information integration than does the Qualtrics sample. These results provide some evidence that many interesting research questions can be satisfactorily answered using nonprofessional investor participants from MTurk. We believe further investigation is needed before Qualtrics can be endorsed as a high-quality source of nonprofessional investor participants.

ChatGPT, a language-learning model chatbot, has garnered considerable attention for its ability to respond to users’ questions. Using data from 14 countries and 186 institutions, we compare ChatGPT and student performance for 28,085 questions from accounting assessments and textbook test banks. As of January 2023, ChatGPT provides correct answers for 56.5 percent of questions and partially correct answers for an additional 9.4 percent of questions. When considering point values for questions, students significantly outperform ChatGPT with a 76.7 percent average on assessments compared to 47.5 percent for ChatGPT if no partial credit is awarded and 56.5 percent if partial credit is awarded. Still, ChatGPT performs better than the student average for 15.8 percent of assessments when we include partial credit. We provide evidence of how ChatGPT performs on different question types, accounting topics, class levels, open/closed assessments, and test bank questions. We also discuss implications for accounting education and research.

No abstract

No abstract

No abstract