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Reference-Dependent Effort Provision under Heterogeneous Loss Aversion: Pre-Analysis Plan
Last registered on March 02, 2021

Pre-Trial

Trial Information
General Information
Title
Reference-Dependent Effort Provision under Heterogeneous Loss Aversion: Pre-Analysis Plan
RCT ID
AEARCTR-0007277
Initial registration date
March 01, 2021
Last updated
March 02, 2021 6:40 AM EST
Location(s)
Primary Investigator
Affiliation
UCSD
Other Primary Investigator(s)
PI Affiliation
University of Copenhagen
PI Affiliation
National University of Singapore
PI Affiliation
Caltech
Additional Trial Information
Status
In development
Start date
2021-03-04
End date
2021-03-26
Secondary IDs
NSF Award 1949517
Abstract
In this study, we design a two-stage experiment to test the comparative static predictions of a leading model of reference-dependent preferences. In particular, we derive predictions from Koszegi and Rabin (2006, 2007) (henceforth KR) for both loss averse and gain loving individuals, and demonstrate how inconclusive average treatment effects from prior studies could be confounded by heterogeneity in gain-loss preferences. We then prepend a first stage to the classic experimental tests of KR in the real effort domain (Abeler et al, 2011; Gneezy et al, 2017) intended to measure individual gain-loss preferences, and examine the difference in treatment effects by type in our second stage.
External Link(s)
Registration Citation
Citation
Campos-Mercade, Pol et al. 2021. "Reference-Dependent Effort Provision under Heterogeneous Loss Aversion: Pre-Analysis Plan." AEA RCT Registry. March 02. https://doi.org/10.1257/rct.7277-1.0.
Experimental Details
Interventions
Intervention(s)
Our intervention shifts the expectations of lab participants regarding their earnings. In particular, they will be presented compensation schemes (in random order) such that they earn 20 cents per task with probability 0.5, $0 with probability p, $10 with probability q. Our intervention is shifting q from 0.05 to 0.45, which should effect the effort participants are willing to put forth as predicted by KR.
Intervention Start Date
2021-03-05
Intervention End Date
2021-03-19
Primary Outcomes
Primary Outcomes (end points)
Effort provision, as indicated by participants in a slider task.
Primary Outcomes (explanation)
Secondary Outcomes
Secondary Outcomes (end points)
Gain-loss distribution, correlation of gain-loss preferences over context.
Secondary Outcomes (explanation)
Experimental Design
Experimental Design
Our experiment asks participants how much they are willing to work at various wages. To measure preferences, we first offer a menu of deterministic wages (eg 10 cents per task) as well as stochastic (eg 0.5 chance of 0 cents per task, 0.5 chance of 20 cents per task). Then, we present our intervention described above. In particular, they will be presented compensation schemes (in random order) such that they earn 20 cents per task with probability 0.5, $0 with probability p, $10 with probability q. Our intervention is shifting q from 0.05 to 0.45, which should effect the effort participants are willing to put forth as predicted by KR. Finally, we elicit preferences using standard monetary Multiple Price Lists, and pick a decision that counts at random.
Experimental Design Details
Randomization Method
Computer randomized.
Randomization Unit
Individual.
Was the treatment clustered?
No
Experiment Characteristics
Sample size: planned number of clusters
500-800 participants
Sample size: planned number of observations
500 - 800
Sample size (or number of clusters) by treatment arms
250-400 each
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
TE of between 12 and 30 tasks should be identifiable.
IRB
INSTITUTIONAL REVIEW BOARDS (IRBs)
IRB Name
UCSD Human Research Protections Program (HRPP)
IRB Approval Date
2021-02-08
IRB Approval Number
200175
Analysis Plan
Analysis Plan Documents
Reference-Dependent Effort Provision under Heterogeneous Loss Aversion: Pre-Analysis Plan

MD5: daa006d77636085545fe93e48dcb41f5

SHA1: 8fba26e17abdb533dce931226ca1d3e637dccf7d

Uploaded At: March 01, 2021

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