Price Prediction Behavior

Last registered on September 10, 2021

Pre-Trial

Trial Information

General Information

Title
Price Prediction Behavior
RCT ID
AEARCTR-0008208
Initial registration date
September 08, 2021
Last updated
September 10, 2021, 12:20 PM EDT

Locations

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Request Information

Primary Investigator

Affiliation
Auburn University

Other Primary Investigator(s)

Additional Trial Information

Status
In development
Start date
2021-09-08
End date
2021-12-15
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This study intends to replicate Mayraz (2018) and potentially extend treatment conditions. The main part of the study includes showing subjects 20 what price scenarios and asking experiment participants to predict the future true prices. Subjects are compensated with $8.00 and by accurately (within a pre-specified interval) predicting the true price they can earn an additional $10.00 reward. Similar to Mayraz (2018), we will have Farmers and Bakers treatments. In addition to that, we will also add the Neutral condition with introducing any role.

External Link(s)

Registration Citation

Citation
Huseynov, Samir. 2021. "Price Prediction Behavior." AEA RCT Registry. September 10. https://doi.org/10.1257/rct.8208-1.0
Experimental Details

Interventions

Intervention(s)
This study intends to replicate Mayraz (2018) and potentially extend treatment conditions. The main part of the study includes showing subjects 20 what price scenarios and asking experiment participants to predict the future true prices. Subjects are compensated with $8.00, and by accurately (within a pre-specified interval) predicting the true price, they can earn an additional $10.00 reward. Similar to Mayraz (2018), we will have Farmers and Bakers treatments. In addition to that, we will also add the Neutral condition with introducing any role.
Intervention Start Date
2021-09-09
Intervention End Date
2021-11-30

Primary Outcomes

Primary Outcomes (end points)
Price predictions
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
This study intends to replicate Mayraz (2018) and potentially extend treatment conditions. The main part of the study includes showing subjects 20 what price scenarios and asking experiment participants to predict the future true prices. Subjects are compensated with $8.00 and by accurately (within a pre-specified interval) predicting the true price they can earn an additional $10.00 reward. Similar to Mayraz (2018), we will have Farmers and Bakers treatments. In addition to that, we will also add the Neutral condition with introducing any role.
Experimental Design Details
Not available
Randomization Method
Qualtrics
Randomization Unit
subject level
Was the treatment clustered?
Yes

Experiment Characteristics

Sample size: planned number of clusters
120
Sample size: planned number of observations
2400
Sample size (or number of clusters) by treatment arms
40 subjects per treatment cell
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB

Institutional Review Boards (IRBs)

IRB Name
Auburn University IRB
IRB Approval Date
2021-09-08
IRB Approval Number
#21-368 EX 2108