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Field
Experimental Design (Public)
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Before
The experimental implementation consists of randomly assigning participants to different generations or cohorts in each of the eight 3-period sequences that make up a session. Members of each cohort face different trading motivations (speculation or state contingent dividend collection) in each period's double auction asset market, given by the overlapping generations structure and state contingent dividend design.
In terms of the treatments we use both a between and within design. In half of the sessions information about the "state of the world" that determines dividend payments is freely given to half the market participants, in the other half this information is costly and can be acquire by up two half the participants. In each session, regardless of the information structure, all participants will eventually encounter both trading motivations depending on on the cohort for the sequence they been assigned to.
In terms of the actual interface, we use Otree and run sessions online with members of the UCI ESSL subject pool. Instructions, a comprehension test and 2 practice sequence are directed by a researcher trough Zoom and then participants are left for the remaining 8 sequence on their own.
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After
The experimental implementation consists of randomly assigning participants to different generations or cohorts in each of the eight 3-period sequences that make up a session. Members of each cohort face different trading motivations (speculation or dividend collection) in each period's double auction asset market given by the overlapping generations structure and state contingent dividend design.
In terms of the treatments we use both a between and within design. In half of the sessions information about the "state of the world" that determines dividend payments is freely given to half the market participants, in the other half this information is costly and can be acquire by up to half the participants. In each session, regardless of the information structure, all participants will eventually encounter both trading motivations depending on on the cohort for the sequence they been assigned to.
In terms of the actual interface, we use Otree and run sessions online with members of the UCI ESSL subject pool. Instructions, a comprehension test and 2 practice sequence are directed by a researcher trough Zoom and then participants are left for the remaining 8 sequence on their own.
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