Bayesian Updating, Incentives, and Removal of Valence

Last registered on April 26, 2021
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Pre-Trial

Trial Information

General Information

Title
Bayesian Updating, Incentives, and Removal of Valence
RCT ID
AEARCTR-0007561
Initial registration date
April 20, 2021

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
April 21, 2021, 10:41 AM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Last updated
April 26, 2021, 5:32 AM EDT

Last updated is the most recent time when changes to the trial's registration were published.

Locations

Country
United Kingdom of Great Britain and Northern Ireland
Region

Primary Investigator

Name
Alexander Ritschel
Affiliation
University of Zurich
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Other Primary Investigator(s)

PI Name
Carlos Alós-Ferrer
PI Affiliation
University of Zurich
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PI Name
Michele Garagnani
PI Affiliation
University of Zurich
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PI Name
Johannes Buckenmaier
PI Affiliation
University of Zurich
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Additional Trial Information

Status
In development
Start date
2021-04-27
End date
2021-09-30
Keywords
Behavior, Other
Additional Keywords
Bayesian Updating, Incentives
JEL code(s)
C91, D91
Secondary IDs
Abstract
This preregistration describes an online experiment investigating a belief-updating task with various incentive levels while removing the valence of the information feedback. We describe the experimental design, the variables of interest, the hypotheses, and sample size. The experiment is conducted online via Prolific (recruiting) and Qualtrics (study).
External Link(s)

Registration Citation

Citation
Alós-Ferrer, Carlos et al. 2021. "Bayesian Updating, Incentives, and Removal of Valence." AEA RCT Registry. April 26. https://doi.org/10.1257/rct.7561-1.1
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2021-04-27
Intervention End Date
2021-09-30

Primary Outcomes

Primary Outcomes (end points)
Error Rates when State of the World is not revealed
Error Rates when State of the World is revealed
Primary Outcomes (explanation)
Individual relative frequency of errors in the second draw (choosing the urn not prescribed by Bayesian updating) when the left urn was selected during the first draw.
Individual relative frequency of errors in the second draw (choosing the urn not prescribed by Bayesian updating) when the right urn was selected during the first draw (used as exclusion criteria).

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
This preregistration describes an online experiment investigating a belief-updating task with various incentive levels while removing the valence of the information feedback. We describe the experimental design, the variables of interest, the hypotheses, and sample size. The experiment is conducted online via Prolific (recruiting) and Qualtrics (study).
Experimental Design Details
Randomization Method
Randomization done by computer (Qualtrics).
Randomization Unit
Incentives randomized across individuals between 1 and 25 pence for a correct draw (integer values).
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
600 subjects
Sample size: planned number of observations
600 subjects
Sample size (or number of clusters) by treatment arms
approximately 24 observations for 25 different incentive levels.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials

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IRB

Institutional Review Boards (IRBs)

IRB Name
Human Subjects Committee of the Faculty of Economics, Business Administration, and Information Technology, University of Zurich
IRB Approval Date
2021-04-19
IRB Approval Number
OEC IRB # 2021-022
Analysis Plan

Post-Trial

Post Trial Information

Study Withdrawal

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Intervention

Is the intervention completed?
No
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