Is trust the answer to cognitive droughts? An experimental study of index insurance demand

Last registered on April 02, 2018

Pre-Trial

Trial Information

General Information

Title
Is trust the answer to cognitive droughts? An experimental study of index insurance demand
RCT ID
AEARCTR-0002715
Initial registration date
February 03, 2018
Last updated
April 02, 2018, 3:05 PM EDT

Locations

Region

Primary Investigator

Affiliation
University of Sussex

Other Primary Investigator(s)

Additional Trial Information

Status
In development
Start date
2018-02-12
End date
2018-10-31
Secondary IDs
Abstract
Does cognitive load increase reliance on who we trust when making decisions? We design a lab in the field experiment to explore factors affecting takeup of a novel agricultural index insurance product. We randomly prime subjects to experience cognitive load, a state of limited limited mental resources, and also randomly provide endorsement of the product by a trusted individual. A short experimental game is carried out to measure subjects' risk aversion.
External Link(s)

Registration Citation

Citation
Stern, Jonathan. 2018. "Is trust the answer to cognitive droughts? An experimental study of index insurance demand." AEA RCT Registry. April 02. https://doi.org/10.1257/rct.2715-2.0
Former Citation
Stern, Jonathan and Jonathan Stern. 2018. "Is trust the answer to cognitive droughts? An experimental study of index insurance demand." AEA RCT Registry. April 02. https://www.socialscienceregistry.org/trials/2715/history/27585
Experimental Details

Interventions

Intervention(s)
Subjects are offered a short presentation about an index insurance product. For a random sub-sample, this is followed by endorsement by a trusted individual; likely to be an agrovet or agronomist. We randomly prime a sub-group of subjects to experience cognitive load, a state of limited limited mental resources. A short experimental game is carried out to measure subjects' risk aversion.
Intervention Start Date
2018-02-12
Intervention End Date
2018-02-23

Primary Outcomes

Primary Outcomes (end points)
Uptake of index insurance
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
The experiment is designed according to a 2x2 factorial matrix, with each cell comprising 75 individuals. Treatments are priming to induce cognitive load, and endorsement of the product by a trusted individual. All subjects participate in baseline, midline and endline surveys, including a risk aversion game.
Experimental Design Details
Randomization Method
Random selection from lists of participants.
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
Approximately 15 villages.
Sample size: planned number of observations
300
Sample size (or number of clusters) by treatment arms
75
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB

Institutional Review Boards (IRBs)

IRB Name
University of Sussex Social Sciences & Arts C-REC
IRB Approval Date
2018-01-15
IRB Approval Number
ER/JS752/1
Analysis Plan

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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