Framing in Representativeness

Last registered on September 04, 2023
View Trial History

Pre-Trial

Trial Information

General Information

Title
Framing in Representativeness
RCT ID
AEARCTR-0011758
Initial registration date
July 10, 2023

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
September 04, 2023, 5:47 AM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

Country
United Kingdom of Great Britain and Northern Ireland
Region

Primary Investigator

Name
Matthew Levy
Affiliation
LSE
Contact Primary Investigator

Other Primary Investigator(s)

Additional Trial Information

Status
In development
Start date
2023-07-10
End date
2024-07-11
Keywords
Behavior, Lab
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
An experiment on framing in random sequences.
External Link(s)

Registration Citation

Citation
Levy, Matthew. 2023. "Framing in Representativeness." AEA RCT Registry. September 04. https://doi.org/10.1257/rct.11758-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Between-subjects design; subjects vary in framing of an i.i.d. sequence.
Intervention (Hidden)
Three treatments.
Subjects in Treatment 1 are presented with the choice between (a) £10 if the sum of two independent dice is even, or (b) £10 if the sum of two independent dice is odd. For symmetry with other groups they are also asked the same following an initial (joint) outcome.
Subjects in Treatment 2 and 3 are presented with the choice between (a) £10 if the second roll of a die matches (even or odd) the first roll of a die. For symmetry with Treatment 1 they are also asked the same about the initial roll of two independent dice.
Intervention Start Date
2023-07-11
Intervention End Date
2024-07-11

Primary Outcomes

Primary Outcomes (end points)
(Binary) lottery choice
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
BDM valuation of lottery
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Between-subject experiment; frames randomly assigned.
Experimental Design Details
Subjects were randomly assigned to one of three treatment arms. All three arms were then given a first choice between lotteries and a BDM valuation for the minimum prize required in the second lottery to make them indiffierent between the two. Two dice were then publicly thrown and the outcomes shown to subjects. All three arms then entered the outcome into the computer task (e.g. "EvenEven" or "OddEven", etc.) to generate the correct set of seond-round lotteries. The choice and BDM tasks were repeated for these lotteries and the two dice were then publicly thrown a second time. One subject and one task was randomly selected by the computer for payment.

Key analysis is test of equal proportions (by treatment) in equivalent lottery choices. Test of equal BDM valuation means as secondary analysis.
Randomization Method
Computerized
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
~150-200 subjects
Sample size: planned number of observations
Same
Sample size (or number of clusters) by treatment arms
1/3 in each arm
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
LSE Ethics Review
IRB Approval Date
2023-07-03
IRB Approval Number
240448
Analysis Plan

Post-Trial

Post Trial Information

Study Withdrawal

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Intervention

Is the intervention completed?
No
Data Collection Complete
Data Publication

Data Publication

Is public data available?
No

Program Files

Program Files
Reports, Papers & Other Materials

Relevant Paper(s)

Reports & Other Materials