How Requesters price HITs

How do requesters how they set the price they pay on their HITs? In a study of almost 50 Requesters, we heard variety of methods, including:
*Examining what ‘similar HITs’ were paying
*Basing it on a specific hourly rate (that ranged from $3 to $12 per hour)
*Basing it on grant funding
*Pulling it out on thin air based on what administration is likely to approve

Thinking about these methods, though, shows some weaknesses:
*The ‘similar HIT’ method is only accurate if the amount of time to complete the HIT is similar and if the Requester is paying a decent wage in the first place
*The specific hourly rate has a huge range—Amazon itself recommends $6 per hour, which is below he minimum wage in the US of $7.25 (which calculates out to about 12 cents per minute). Keep in mind also that the best academic requester pay between $0.20-$0.30 per minute.
*Basing it on grant funding comes down to the equation “amount of funds divided by number of people I need.” As studies are showing that sample sizes much be large in order to examine the power of the statistic, the risk for this method is that people will be underpaid.
*The thin air method: we’ve all probably done it. Let’s stop it.

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