Changing Producers' Risk Attitudes
Last registered on May 13, 2021

Pre-Trial

Trial Information
General Information
Title
Changing Producers' Risk Attitudes
RCT ID
AEARCTR-0006951
Initial registration date
December 18, 2020
Last updated
May 13, 2021 9:00 PM EDT
Location(s)

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Primary Investigator
Affiliation
Johns Hopkins University
Other Primary Investigator(s)
PI Affiliation
Johns Hopkins University
Additional Trial Information
Status
On going
Start date
2020-12-18
End date
2023-01-01
Secondary IDs
Abstract
We explore the prevalence of risk attitude reversals for experienced producers. Prior literature has identified a discrepancy in risk attitudes between comparing and pricing lotteries. Specifically, on average, individuals appear to be more risk-neutral when pricing lotteries and risk-averse when comparing lotteries. Our study elicits certainty equivalents and probability equivalent using choice lists--a pricing and a comparing task. To explore the generalizability of this discrepancy of risk attitudes across contexts, we study experts' behavior and choices with substantial incentives. 
External Link(s)
Registration Citation
Citation
Feldman, Paul and Paul Ferraro. 2021. "Changing Producers' Risk Attitudes." AEA RCT Registry. May 13. https://doi.org/10.1257/rct.6951-2.0.
Sponsors & Partners

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Experimental Details
Interventions
Intervention(s)
Intervention Start Date
2020-12-18
Intervention End Date
2021-05-31
Primary Outcomes
Primary Outcomes (end points)
Risk attitudes as measured by risk premia.
Primary Outcomes (explanation)
Secondary Outcomes
Secondary Outcomes (end points)
Secondary Outcomes (explanation)
Experimental Design
Experimental Design
Incentivized choice lists and survey questions.
Experimental Design Details
Not available
Randomization Method
Randomization in office by computer.
Randomization Unit
Subject level.
Was the treatment clustered?
No
Experiment Characteristics
Sample size: planned number of clusters
students and producers
Sample size: planned number of observations
120 students and 400 producers
Sample size (or number of clusters) by treatment arms
Treatment is randomized at the subject level. Roughly half of our subjects will be assigned to one of two different choice list orderings.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB
INSTITUTIONAL REVIEW BOARDS (IRBs)
IRB Name
Homewood Institutional Review Board
IRB Approval Date
2020-12-01
IRB Approval Number
HIRB00012132
Analysis Plan

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