Relative skewness preferences and experienced feedback

Last registered on November 19, 2021

Pre-Trial

Trial Information

General Information

Title
Relative skewness preferences and experienced feedback
RCT ID
AEARCTR-0008567
Initial registration date
November 15, 2021
Last updated
November 19, 2021, 7:57 AM EST

Locations

Region

Primary Investigator

Affiliation
Toulouse School of Economics

Other Primary Investigator(s)

PI Affiliation
Renmin University of China

Additional Trial Information

Status
Completed
Start date
2021-11-18
End date
2021-11-19
Secondary IDs
Prior work
This trial is based on or builds upon one or more prior RCTs.
Abstract
Salience theory and Regret Theory predicts that choices between two lotteries are driven not only by the marginal distributions of the lotteries, but also by the correlation between the two lotteries. In particular, both theories predict a preference for relative skewness. Our previous work has documented a precisely estimated null effect of relative skewness on non-repeated lottery choices. Based on suggestive evidence from this past experiment, we hypothesize that experienced outcomes feedback will induce participants to express preferences over relative skewness. We test this conjecture in an exploratory experiment.


External Link(s)

Registration Citation

Citation
Loewenfeld, Moritz and Jiakun Zheng. 2021. "Relative skewness preferences and experienced feedback ." AEA RCT Registry. November 19. https://doi.org/10.1257/rct.8567-1.0
Experimental Details

Interventions

Intervention(s)
We run a classroom experiment. Participants make multiple repeated choices between two lotteries and answer a survey. Six participants are selected randomly. For each of these six participants, one of the lottery choices is randomly selected, and participants are paid on the basis of this choice.

For a detailed description of the experimental design and the lotteries we employ, see the document "Experiment_design".
Intervention Start Date
2021-11-18
Intervention End Date
2021-11-19

Primary Outcomes

Primary Outcomes (end points)
Choice reversals due to changes in the correlation structure, and frequency of choices of the lottery with a higher relative skewness.
For a detailed description of our variables and their construction, see the document "PAP".
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
For a detailed description of the experimental design, see the document "Experiment_design".
Experimental Design Details
Randomization Method
Computer.
Randomization Unit
Individual.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
About 60 participants.
Sample size: planned number of observations
About 60 participants.
Sample size (or number of clusters) by treatment arms
About 60 participants.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials

There are documents in this trial unavailable to the public. Use the button below to request access to this information.

Request Information
IRB

Institutional Review Boards (IRBs)

IRB Name
Lab of National Governance and Development, Renmin University of China
IRB Approval Date
2021-11-15
IRB Approval Number
RUCecon-202111-3
Analysis Plan

There are documents in this trial unavailable to the public. Use the button below to request access to this information.

Request Information

Post-Trial

Post Trial Information

Study Withdrawal

There are documents in this trial unavailable to the public. Use the button below to request access to this information.

Request Information

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