A study on the willingness to substitute heuristics with ‘generative artificial intelligence’ (GenAI) in economic decision making.

Last registered on June 04, 2025

Pre-Trial

Trial Information

General Information

Title
A study on the willingness to substitute heuristics with ‘generative artificial intelligence’ (GenAI) in economic decision making.
RCT ID
AEARCTR-0016113
Initial registration date
June 01, 2025

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
June 04, 2025, 10:00 AM EDT

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

Locations

Primary Investigator

Affiliation
University of Glasgow

Other Primary Investigator(s)

Additional Trial Information

Status
In development
Start date
2025-06-02
End date
2026-06-30
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This study investigates the degree to which individuals are willing to substitute heuristics (rules of thumb) with the use of generative ‘artificial intelligence’ (GenAI) to inform their economic decision making. An incentivised survey experiment will be implemented in a behavioural economics lab under controlled conditions. Participants will be asked to solve hypothetical economic problems, where heuristics are often employed, and they will be allowed to exchange a portion of monetary rewards for the opportunity to use GenAI. All answers are collected anonymously.
External Link(s)

Registration Citation

Citation
Sejas-Portillo, Rodolfo. 2025. "A study on the willingness to substitute heuristics with ‘generative artificial intelligence’ (GenAI) in economic decision making.." AEA RCT Registry. June 04. https://doi.org/10.1257/rct.16113-1.0
Experimental Details

Interventions

Intervention(s)
An incentivised survey experiment conducted in-person at a behavioural lab.
Intervention (Hidden)
The experiment will employ between-subject and within-subject experimental designs to obtain estimations of the willingness to pay for the use of GenAI to help solve economic problems. Participants will be asked to solve hypothetical economic problems of varying complexity, where heuristics are often employed, and they will be allowed to exchange a portion of monetary rewards for the opportunity to use GenAI.
Intervention Start Date
2025-06-02
Intervention End Date
2025-06-30

Primary Outcomes

Primary Outcomes (end points)
1) The willingness to pay for the use of GenAI to help answer decisions making questions. This is measured as the amount of the potential reward a participant is willing to exchange to see an answer generated by GenAI.
2) The accuracy of the answer to economic decision making questions. This will be measured as a True/False outcome, where True represents a correct answer according to the laws of probability and to the available information.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
3) The confidence in the accuracy of the answer. This will be measured from 0% to 100% in increments of 10%.
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Participants will be asked to answer hypothetical questions on economic decision making. The questions mimic reasoning that they make every day when purchasing products or services. Each question has a correct answer, which is the best possible guess according to the laws of probability given the information available. For each question, if they select the correct answer, then a monetary reward will be added to their total payment (on top of a show-up fee). A portion of participants, during some questions, will be given the option to use GenAI to help them choose an answer. In these cases, they may need to exchange a portion of your reward for the use of GenAI. This amount will be clearly shown before you decide to use GenAI. After the hypothetical questions, they will be asked questions on their everyday use of GenAI and about themselves (personal identification is not possible from these answers). All questions in this last section are optional and your answers will have no effect on your monetary rewards.
Experimental Design Details
The study will be carried out as an incentivised survey experiment at a behavioural lab. The survey will be created and delivered using the otree software platform (https://www.otree.org – published under an MIT open-source license). The otree platform is already installed and available at the lab. GenAI answers to general (i.e. non-personal) hypothetical economic questions will be generated ahead of the experiment.

An Experiment Handbook was develop with detailed information about the procedures that will be followed by the lab manager to conduct the experiment. The Experiment Handbook also includes the instructions that will be shown to participants and samples of the experiment questions.

Participants will be asked to complete a survey that consists of 2 Parts. Participants will be randomly assigned to either a Control Group or one of 2 Treatment Groups. Group assignment affects only Part 1 of the survey, Part 2 is the same for everyone.

In Part 1, participants will be asked to answer multiple hypothetical questions (between 8 and 20). The questions mimic reasoning that people make every day when purchasing products or services. For some questions participants will need to type an answer, for others they will need to select an answer from a list of options (between 2 and 10 options). Each question has a correct answer, which is the best possible guess according to the laws of probability given the information available. If they select the correct answer, a monetary reward will be added to their total payment. If they select any other answer, nothing will be added or subtracted from their payment (i.e. they cannot lose previously earned rewards). After each question, participants will be asked to rate how confident they are of their answer using a Likert style scale. The questions and the order in which they are shown will be randomized for each participant from a pool of predesigned questions. After answering all questions in Part 1, participants will be shown a summary of their performance and their total payment.

Participants in the Control Group will be presented with the hypothetical questions as described above and will not be given the option to use GenAI technologies. Participants in Treatment Group 1 will be asked to answer the same questions, but they will be given the option to use GenAI at a cost. For each question, participants will be given the choice to exchange a predetermined proportion of their potential reward to see an answer produced by GenAI. The answers that GenAI produces are not guaranteed to be correct, and participants will be shown the probability that the GenAI answer is correct before they make their decision to use it or not. After seeing the GenAI answer, the participant must still explicitly state or choose an answer, and it does not have to be the same as the one provided by GenAI. The proportion of the reward to exchange to see the GenAI answer will range from 1% to 99% and will be randomized without any relationship to the question itself. For example, if a participant chooses to see the GenAI answer with a cost of 40%, and selects the right answer, 60% of the reward will be added to their payment. If they select a wrong answer, as before, nothing will get added or subtracted. Participants in Treatment Group 2 will also be given the option to use GenAI. However, for the first half of the questions (e.g. the first 5 of 10 questions) they will be able to use GenAI without any cost. In other words, no proportion will be deducted from their reward if they answer a question correctly, regardless of whether they chose to use GenAI or not. For the second half of the questions will be able to use GenAI at a cost, they will have to exchange a portion of the potential rewards with the same conditions as Treatment Group 1.

In Part 2, participants will be asked about their self-perceived ability for economic decision making, their every-day use of GenAI, and non-identifiable socio-demographics. All questions in this part are optional and answering them is not related to receiving payment or monetary rewards. The GenAI usage questions will ask participants if and how frequently they use GenAI technologies in their work and personal time, how long ago they started using it, if and how the complexity of the task they are tackling informs their decision to use GenAI, and how confident they are of the accuracy of GenAI generated answers. The socio-demographic questions will include gender, age bracket, occupation (student, in the work force, retired), field of study/work (as broad discipline options such as medicine, engineering), income bracket (or parental income bracket if none) and residence area (from broad geographic options in Glasgow, e.g. West End). All answers are collected anonymously, and thus it is not possible to link them to consent forms or payment profiles. Also, the socio-demographic questions can only be answered in broad categories which will ensure that individuals cannot be identified even if answers from all questions are combined. For example, age can only be answered in brackets of 5 years, and field of study/work only as a discipline rather than a specific programme.

The experiment was designed to last 50 minutes, and participants will be compensated for 1 hour of their time. Participants will be given 10 minutes to read the consent form and initial experiment instructions. Part 1 of the survey (which involves problem solving) was designed to be completed in 30 minutes and Part 2 can be finished in 5 to 10 minutes.

Multiple sessions of 24 participants will be run in the lab. During each session participants will be randomly assigned to one of the experimental groups such that there is an equal number of participants in each group by the end of the experiment. One pilot session will be run at the lab with 24 participants, prior to the main sessions, to test the procedure, survey design, data collection and analysis.

Responses to the questions will be saved as a dataset in secure stores provided by the University of Glasgow.

Responses will be analysed using within-subject and between-subject designs, looking at differences in the responses of individuals with and without treatment, and between control and treatment groups conditional on observed characteristics. Regression Analysis and Analysis of Variance (ANOVA) tests will be performed to test the statistical significance of results.
Randomization Method
Computer.
Randomization Unit
The unit of randomisation is the individual participating in the experiment. Randomisation occurs at the following levels:
- Assignment to experiment group (Control Group, Treatment Group 1, Treatment Group 2).
- Order of questions.
- Cost of using GenAI.
- Probability that GenAI answer is correct.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
150 participants who agree to attend the experiment sessions at the behavioural lab.
Sample size: planned number of observations
10 sets of answers (of the outcome variables) for each participant who completes the experiment.
Sample size (or number of clusters) by treatment arms
The target is to obtain 150 individual participants in total and perform the following assignments:
- 50 in Control Group.
- 50 in Treatment Group 1.
- 50 in Treatment Group 2.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB

Institutional Review Boards (IRBs)

IRB Name
College of Social Sciences Research Ethics Committee, University of Glasgow
IRB Approval Date
2025-05-16
IRB Approval Number
400240257

Post-Trial

Post Trial Information

Study Withdrawal

There is information in this trial unavailable to the public. Use the button below to request access.

Request Information

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