Michael Ungureanu from my University of Georgia summer institute was particularly enamored of an even more powerful, even higher-stakes approach to class participation which combines many of the above methods: I ask a check-your-neighbor style question, and require students to write an answer in their notebooks individually. Then, I allow several minutes for discussion. But I tell everyone before the discussion: I will select a student from random.org to explain the answer to me and the class. (Not just to state the answer, but to come to the front of the room and EXPLAIN.) If the randomly selected student is correct, I promise to cancel the next day's quiz.
As you might imagine, discussion in this case is generally active and loud. And, I'd guess that the quiz gets canceled upwards of 80% of the time I use this approach. That's fine with me, because the class discussion and peer instruction that goes on has a teaching power equivalent to at least three quizzes.
[Image at the top from harvard.edu.]