Risk Management and Effort Fungibility Experiment

Last registered on July 26, 2023

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Pre-Trial

Trial Information

General Information

Title

Risk Management and Effort Fungibility Experiment

RCT ID

AEARCTR-0008556

Initial registration date

November 11, 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

November 15, 2021, 11:36 AM EST

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

Last updated

July 26, 2023, 4:01 AM EDT

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

Locations

Country

United States of America

Region

Primary Investigator

Name

Johannes Jaspersen

Affiliation

LMU Munich

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Other Primary Investigator(s)

PI Name

Keith Ericson

PI Affiliation

Boston University

Contact Investigator

PI Name

Sandra Zoller

PI Affiliation

LMU Munich

Contact Investigator

PI Name

Andreas Dambaur

PI Affiliation

LMU Munich

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Additional Trial Information

Status

Completed

Start date

2021-11-23

End date

2022-06-30

Keywords

Behavior, Finance & Microfinance, Labor

Additional Keywords

Insurance

JEL code(s)

D91, C93, G52, J22

Secondary IDs

Prior work

This trial does not extend or rely on any prior RCTs.

Abstract

The study considers the interaction of risk management with the labor decisions of individuals.

External Link(s)

Registration Citation

Citation

Dambaur, Andreas et al. 2023. "Risk Management and Effort Fungibility Experiment." AEA RCT Registry. July 26. https://doi.org/10.1257/rct.8556-6.1

Sponsors & Partners

Experimental Details

Interventions

Intervention(s)

Intervention (Hidden)

The study institutes an Amazon Mechanical Turk (MTurk) labor task. For a fixed wage, subjects transcribe lines from two batches of scanned receipts. The two batches vary in the average length of receipts and, thus, in the number of tasks. The number of tasks to be transcribed is determined by a lottery. Subjects can exercise costly risk management before their work, ensuring a specific number of tasks with certainty. That is, subjects can exercise risk management to receive receipts from the shorter batch with certainty. Treatment varies the autonomy by which subjects can allocate transcription across the two batches.

Intervention Start Date

2021-11-23

Intervention End Date

2022-06-30

Primary Outcomes

Primary Outcomes (end points)

The outcome will be risk management take-up.

Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)

Secondary Outcomes (explanation)

Experimental Design

Experiment studies risk management in a real effort task.

Experimental Design Details

Randomization Method

Randomization is conducted within the Qualtrics randomization feature.

Randomization Unit

Individual

Was the treatment clustered?

Experiment Characteristics

Sample size: planned number of clusters

500

Sample size: planned number of observations

500

Sample size (or number of clusters) by treatment arms

250

Minimum detectable effect size for main outcomes (accounting for sample design and clustering)

The study's target enrollment will be 500 workers. This number is based on a power calculation indicating that an increase in risk management demand of 5 pp will have a statistical significance of 5% with a probability of 80%.

Supporting Documents and Materials

IRB