Culture and economic decision-making

Last registered on November 16, 2021

Pre-Trial

Trial Information

General Information

Title
Culture and economic decision-making
RCT ID
AEARCTR-0008144
Initial registration date
August 24, 2021
Last updated
November 16, 2021, 10:04 PM EST

Locations

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Primary Investigator

Affiliation
Hiroshima University

Other Primary Investigator(s)

PI Affiliation

Additional Trial Information

Status
In development
Start date
2021-09-30
End date
2022-03-31
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We study how culture is related to economic decision making via language. We focus on the Aymara language used in the west part of Bolivia, and control by Spanish as well as two other native languages (Guarani and Quechua). Subjects will play games where rewards depend on intertemporal decision making and risk behavior.
External Link(s)

Registration Citation

Citation
Caro-Burnett, Johann and Yuichiro Yoshida. 2021. "Culture and economic decision-making." AEA RCT Registry. November 16. https://doi.org/10.1257/rct.8144-1.2000000000000002
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2021-09-30
Intervention End Date
2022-03-31

Primary Outcomes

Primary Outcomes (end points)
In the risk behavior game, we will measure how much and how many times participants bet a given amount of cash.
In the intertemporal decision making game, we will measure the impatience of subjects by "time", in a variation of the marshmallow experiment.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
At the end, we will also explicitly ask subjects questions regarding their opinion on (1) the direction in which time flows, (2) whether they consider themselves being optimistic, and (3) whether they "accept their destiny" or try to anticipate all possible outcomes and make a rational decision.
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Subjects will play games with monetary rewards. We will focus on two types of games: intertemporal decision making and risk behavior. We aim to identify the effect of culture on economic decision-making, focusing on language as the main source of heterogeneity.
Experimental Design Details
Not available
Randomization Method
Randomization is special in our intervention. When comparing a native language with Spanish language, it is a natural experiment since at the moment of birth, a "soul" is born in a given family with a given culture.
However, since we focus on Aymara, we will randomize in this group as well as the Quechua and Guarani. Half of the native speaking subjects will be interviewed and receive directions for the games in their native language and the other half in Spanish. The randomization will be done in front of each participant. They are all bilingual, so there is no language barrier. We will use very simple terms when explaining the game.
Randomization Unit
For the game regarding risk, the unit of analysis will be each iteration of the game. There will be two "training games" with minor prizes (candies) and four games involving cash. So, the number of observations will be four times the number of subjects.
For the "patience" game, which is a variation of the marshmallow experiment, the unit of analysis is at the individual level.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
6 clusters. Aymara and Spanish in East Bolivia, Quechua and Spanish in Central Bolivia, Guarani and Spanish in West Bolivia.
Sample size: planned number of observations
Total: 450 subjects
Sample size (or number of clusters) by treatment arms
East Bolivia: Aymara = 100 and Spanish = 50
Central Bolivia: Quechua = 100 and Spanish = 50
West Bolivia: Guarani= 100 and Spanish = 50
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB

Institutional Review Boards (IRBs)

IRB Name
Hiroshima University, Graduate
IRB Approval Date
2020-03-01
IRB Approval Number
HUIDEC-2020-0003