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Heterogeneity of Loss Aversion and Expectations-Based Reference Points: Replication
Last registered on July 05, 2018

Pre-Trial

Trial Information
General Information
Title
Heterogeneity of Loss Aversion and Expectations-Based Reference Points: Replication
RCT ID
AEARCTR-0003124
Initial registration date
July 03, 2018
Last updated
July 05, 2018 8:07 PM EDT
Location(s)
Region
Primary Investigator
Affiliation
UCSD
Other Primary Investigator(s)
PI Affiliation
UCSD
PI Affiliation
University of Bonn
PI Affiliation
University of Bonn
Additional Trial Information
Status
In development
Start date
2018-07-11
End date
2018-07-18
Secondary IDs
Abstract
This project is a replication of our prior work examining the role of heterogeneity in loss aversion for identifying models of expectations-based reference dependence (Kőszegi and Rabin, 2006, 2007) (KR). In a previous study, we demonstrated that different levels of loss aversion lead to different signs for comparative statics previously used to test the KR model, and in an experiment with 607 subjects, we showed heterogeneous treatment effects over loss aversion types. Here, we describe our plan to replicate this experiment, providing power calculations for our desired sample size of 400 subjects and detailing the tables we will fill out once we run our experiments.
Registration Citation
Citation
Goette, Lorenz et al. 2018. "Heterogeneity of Loss Aversion and Expectations-Based Reference Points: Replication." AEA RCT Registry. July 05. https://doi.org/10.1257/rct.3124-1.0.
Former Citation
Goette, Lorenz et al. 2018. "Heterogeneity of Loss Aversion and Expectations-Based Reference Points: Replication." AEA RCT Registry. July 05. http://www.socialscienceregistry.org/trials/3124/history/31520.
Experimental Details
Interventions
Intervention(s)
Intervention Start Date
2018-07-11
Intervention End Date
2018-07-18
Primary Outcomes
Primary Outcomes (end points)
We are interested in how the decision to exchange is affected by treatment status, and especially if this changes by category of loss aversion.
Primary Outcomes (explanation)
The category of loss aversion will be measured in two ways: a structural and reduced method that takes advantage of the ratings data in Stage 1 of our experiment. Our regressions of interest will then be conducted on the sub-populations defined by this measure. More details of these measures can be found in Graeber et al (2018).
Secondary Outcomes
Secondary Outcomes (end points)
Secondary Outcomes (explanation)
Experimental Design
Experimental Design
In a laboratory setting at the University of Bonn, we run a two stage experiment. In the first stage, we randomly endow subjects with one of two goods from a bundle, and elicit liking and wanting ratings over the two goods as well as mood ratings. Then, using a randomization device, half of the subjects are forced to relinquish their endowed good for the other good in the bundle. We again measure mood. For stage 2, subjects are randomly endowed with a new good from a different bundle of two goods. Half of our subjects then enter the baseline treatment, where they are asked to decide if they wish to exchange their good for the other good. The other half of subjects are in the forced exchange treatment, where they are informed that they will be forced to exchange their item for the other with probability 1/2, and are then asked if they want to keep their item or exchange it. After the experimenter randomizes and clears the market, subjects fill out questionnaires including demographic questions as well as measures of cognitive ability.
Experimental Design Details
Randomization Method
Lottery balls in a rotating drum are used for forced exchange in both stage 1 and 2.
Randomization Unit
We randomize at the individual level.
Was the treatment clustered?
No
Experiment Characteristics
Sample size: planned number of clusters
About 400 subjects.
Sample size: planned number of observations
About 400.
Sample size (or number of clusters) by treatment arms
About 200 subjects in our baseline condition and 200 subjects in our forced exchange treatment.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
We have a MDE of about 34 percentage points, as described extensively in our pre analysis plan.
Supporting Documents and Materials

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IRB
INSTITUTIONAL REVIEW BOARDS (IRBs)
IRB Name
IRB Approval Date
IRB Approval Number
Analysis Plan
Analysis Plan Documents
Heterogeneity of Loss Aversion and Expectations-Based Reference Points: Replication Pre-Analysis Plan

MD5: 6b1b716a1bd5878c55aa83d12b271fa8

SHA1: 9ba7e49ecb4536b3ad9be7dc9c7ba72a46daf48d

Uploaded At: July 03, 2018

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