Experimental Design
To measure willingness to pay for a commitment device (defined as receiving payment conditional on following through and volunteering in the next month rather than unconditional payment), I will use the Becker, Degroot, Marschak (BDM) Mechanism (1964). Subjects will be asked if they would rather have X dollars unconditionally or 25 dollars conditional on volunteering with a non-profit organization at least once in the next month. Then one of these decisions is chosen at random and implemented.
To measure the effect of information on this willingness to pay, I will have a treatment group who is given information about their present bias as measured by the first stage of the study. Subjects will be told whether our model predicts that they are present biased, and if so, whether our model predicts that they will struggle with procrastination in volunteering. We will then measure the differences in willingness to pay for commitment between the control and treatment groups. To measure the effect of commitment devices on volunteering decisions, a treatment group will receive their choice of an unconditional payment and the commitment device from the BDM mechanism. The control group will receive an unconditional payment no matter their decision. We will then follow up with all subjects during the next month about volunteering decisions with an incentivized survey. All subjects who received the unconditional payment will be asked to self report whether or not
they volunteered.