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Intertemporal tradeoffs between multiple period payment streams: an online experiment
Last registered on January 10, 2020

Pre-Trial

Trial Information
General Information
Title
Intertemporal tradeoffs between multiple period payment streams: an online experiment
RCT ID
AEARCTR-0003983
Initial registration date
January 07, 2020
Last updated
January 10, 2020 11:22 AM EST
Location(s)
Region
Primary Investigator
Affiliation
University of Neuchatel
Other Primary Investigator(s)
PI Affiliation
University of Neuchatel
Additional Trial Information
Status
On going
Start date
2019-04-29
End date
2020-01-25
Secondary IDs
Abstract
This study adds to the understanding of time preferences in situations where inter-temporal trade-offs extend beyond typical two-period scenario. In addition to the typical choice between smaller-sooner vs. later-larger amount in a two-period setting, a CTB approach, which strongly relies on the separability and additivity assumptions, our design investigates how people make trade-offs in a three-period elicitation task. In this richer environment, participants can possibly apply different discount rates to sooner vs later delays (e.g. declining discounting), or prefer to smooth the payments over multiple periods and violate separability.
External Link(s)
Registration Citation
Citation
Kandul, Serhiy and Bruno Lanz. 2020. "Intertemporal tradeoffs between multiple period payment streams: an online experiment." AEA RCT Registry. January 10. https://doi.org/10.1257/rct.3983-1.0.
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Experimental Details
Interventions
Intervention(s)
We elicit time preferences in an incentivized online experiment on Amazon Mechanical Turk.
Intervention Start Date
2020-01-14
Intervention End Date
2020-01-21
Primary Outcomes
Primary Outcomes (end points)
Participants' discounts rate
Primary Outcomes (explanation)
risk preferences, curvature of the utility function,
intertemporal elasticity of substitution
discounting of environmental goods
Secondary Outcomes
Secondary Outcomes (end points)
Secondary Outcomes (explanation)
Experimental Design
Experimental Design
The experiment consists of three parts: two-period CTB eliciation task, three-period time preference elicitation, and a risk elicitation task,
Two-period CTB allows participants to allocate a budget between sooner and later payment date; the time intervals and the front delays vary (with and without an overlap which allows us to distinguish declining discounting from sub-additivity).
In the three-period time preferences elicitation, participants are asked to choose between two options, each of which envisages three payments of various amounts at the three fixed points in the future. The time intervals are the same for the two options, only the amounts differ. Risk elicitation is a standard multiple price list, a series of choices between safer and lower gains vs. riskier and higher gains.

Experimental Design Details
Randomization Method
randomization by the computer (Qualtrics)
Randomization Unit
Individual
Was the treatment clustered?
No
Experiment Characteristics
Sample size: planned number of clusters
120
Sample size: planned number of observations
120 + 20 (pilot)
Sample size (or number of clusters) by treatment arms
120
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
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