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Abstract
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Before
In contrast to standard economic theory, many economic experiments report peer effects on individual choices under risk, suggesting individ- uals have peer-dependent risk preferences. At the same time, tools to discuss peer-dependent risk preferences are limited and often arbitrary. Based on a model of peer-dependent reference points, we conduct two experiments -- a peer experiment and a control experiment. Building on a within-subjects design, participants will face Multiple Price Lists (MPLs) while merely observing what another participant (Peer) earns. We test peer effects on individual choice under risk in settings where ranks can and cannot reverse. We conduct another experiment to control for other confounding factors that could drive participant behavior.
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After
In contrast to standard economic theory, many economic experiments report peer effects on individual choices under risk, suggesting individuals have peer-dependent risk preferences. At the same time, tools to discuss peer-dependent risk preferences are limited and often arbitrary. Based on a model of peer-dependent reference points, we conduct two experiments -- a peer experiment and a control experiment. Building on a within-subjects design, participants will face Multiple Price Lists (MPLs) while merely observing what another participant (Peer) earns. We test peer effects on individual choice under risk in settings where ranks can and cannot reverse. We conduct another experiment to control for other confounding factors that could drive participant behavior.
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Trial End Date
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Before
July 31, 2023
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After
August 31, 2023
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Last Published
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Before
May 18, 2023 05:53 AM
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After
July 23, 2023 11:19 AM
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Intervention End Date
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Before
July 31, 2023
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After
August 31, 2023
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Planned Number of Clusters
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Before
None but if needed, 4 experimental sessions
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After
None but if needed, 8 experimental sessions
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Sample size (or number of clusters) by treatment arms
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Before
4 experimental sessions for both the peer and the control experiment
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After
8 experimental sessions for both the peer and the control experiment
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