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On the measurement and estimation of risk preferences: From the lab to the field
Last registered on July 24, 2017

Pre-Trial

Trial Information
General Information
Title
On the measurement and estimation of risk preferences: From the lab to the field
RCT ID
AEARCTR-0002349
Initial registration date
July 24, 2017
Last updated
July 24, 2017 10:07 AM EDT
Location(s)
Primary Investigator
Affiliation
University of Reading
Other Primary Investigator(s)
PI Affiliation
University of Oxford
Additional Trial Information
Status
In development
Start date
2017-07-24
End date
2017-12-15
Secondary IDs
Abstract
This document constitutes a pre-analysis plan for an experiment to be conducted in the field in India, starting in late July/early August 2017. Comparison samples are to be obtained with students in Oxford, and budget allowing, with students in Pune, India. While we tried to present a complete discussion, some of the hypotheses remain less elaborate than we had hoped for. This is due on the one hand to time pressures coming from project funding, which did not allow us to further delay the experiments. We thus had to leave this plan incomplete in order to be able to submit before seeing any signifiant amounts of data coming out of the experiment. On the other hand, this same time pressure did not allow us to fully develop our econometric approach, so that some hypotheses are formulated only verbally, but do not yet have a more precise mathematical formulation.
External Link(s)
Registration Citation
Citation
Panin, Amma and Ferdinand Vieider. 2017. "On the measurement and estimation of risk preferences: From the lab to the field." AEA RCT Registry. July 24. https://doi.org/10.1257/rct.2349-1.0.
Former Citation
Panin, Amma, Ferdinand Vieider and Ferdinand Vieider. 2017. "On the measurement and estimation of risk preferences: From the lab to the field." AEA RCT Registry. July 24. http://www.socialscienceregistry.org/trials/2349/history/19737.
Experimental Details
Interventions
Intervention(s)
There is no treatment intervention. The study consists of the experimental measurement of risk preferences using a variety of elicitation tasks.
Intervention Start Date
2017-07-24
Intervention End Date
2017-12-15
Primary Outcomes
Primary Outcomes (end points)
The main dimensions to be investigated are: measurement reliability; predictive validity; noise in measurement; modelling of preferences; endogenous reference points activated by task characteristics.
Primary Outcomes (explanation)
Secondary Outcomes
Secondary Outcomes (end points)
Secondary Outcomes (explanation)
Experimental Design
Experimental Design
We aim to measure risk preferences using a variety of measurement tasks. These include four `blocks' of comparable tasks, each one of which contains seven unique choice lists (plus repetitions and variations). In addition, we use three more traditional choice lists. Measurements are repeated over time.
Experimental Design Details
Randomization Method
There is no randomization involved.
Randomization Unit
We target one whole village in southern India.
Was the treatment clustered?
No
Experiment Characteristics
Sample size: planned number of clusters
275 households in the field; 100 subjects at each of the two universities.
Sample size: planned number of observations
For each subject, we will obtain 96*2 measurements, plus a variety of survey questions.
Sample size (or number of clusters) by treatment arms
n/a
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB
INSTITUTIONAL REVIEW BOARDS (IRBs)
IRB Name
IRB Approval Date
IRB Approval Number
Analysis Plan

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Post-Trial
Post Trial Information
Study Withdrawal
Intervention
Is the intervention completed?
No
Is 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