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Field
Trial Start Date
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Before
December 18, 2021
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After
February 27, 2022
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Last Published
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Before
December 19, 2021 12:50 PM
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After
March 03, 2022 09:05 PM
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Field
Intervention (Public)
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Before
We measure excuse-driven risk preferences in the gain domain and loss domain. We adopt a within-subject design. There are correspondingly four blocks for each treatment, i.e., 8 blocks in total. Price lists in each block only differ in 7 different probabilities. The order of two treatments is random, and four blocks in each treatment are presented in a random order for each participant.
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After
We measure excuse-driven risk preferences in the gain domain and loss domain. Considering the setting of payoffs, we adopt a between-subject design. In each experiment, there are four blocks of decision tasks including 30 multiple price lists
and a moral wiggle room including three decision games. Price lists in each block only differ in 7 different probabilities, i.e. {95%, 90%, 75%, 50%, 25%, 10%, 5%}, and four blocks are presented in a random order for each participant.
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Intervention Start Date
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Before
December 18, 2021
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After
March 05, 2022
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Intervention End Date
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Before
December 31, 2021
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After
March 11, 2022
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Field
Primary Outcomes (End Points)
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Before
- partner-specific values in the gain and loss domain respectively
- participants' valuations of different lotteries
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After
- partner-specific values in the gain and loss domain respectively
- participants' valuations of different lotteries
- excuse-driven types of participants
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Field
Experimental Design (Public)
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Before
Our experimental design is mainly based on Exley (2016)’s methods, but we include two treatments, gain and loss. Participants are required to complete thirty price lists respectively in the gain and loss domain, that is 60 price lists in total. These thirty price lists in each treatment include one “normalization” price list, one buffer price list and 28 valuation price lists. Each price list consists of a series of binary decisions. Through these price lists, we could measure individuals' responses to different risk situations.
In each treatment, participants first complete a normalization price list that determines partner-specific X values. Partner-specific X values are used later to determine the non-zero gains or losses of partner lotteries and partner certain amounts in valuation price lists. The second one is a buffer price list similar to the normalization one. After completing the first two price lists, participants complete 28 valuation price lists respectively in two treatments, which are used to estimate individuals’ lottery valuations. In this part, participants face eight types of decision tasks – {self gain lottery, partner gain lottery} X {self gain certain amount, partner gain certain amount} and {self loss lottery, partner loss lottery} X {self loss certain amount, partner loss certain amount}.
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After
Our experimental design is mainly based on Exley (2016)’s methods, but we modify and apply in the gain domain and loss domain. We adopt a between-subject design. Participants are required to complete thirty price lists respectively in the gain and loss experiment. Thirty price lists include one “normalization” price list, one buffer price list and 28 valuation price lists. Each price list consists of a series of binary decisions. Through these price lists, we could measure individuals' responses to different risk situations.
In each experiment, participants first complete a normalization price list that determines partner-specific X values. Partner-specific X values are used later to determine the non-zero gains or losses of partner lotteries and partner certain amounts in valuation price lists. The second one is a buffer price list similar to the normalization one. After completing the first two price lists, participants complete 28 valuation price lists, which are used to estimate individuals’ lottery valuations. In this part, participants face four types of decision tasks respectively in the gain and loss experiment – {self gain lottery, partner gain lottery} X {self gain certain amount, partner gain certain amount} and {self loss lottery, partner loss lottery} X {self loss certain amount, partner loss certain amount}.
After participants complete the price lists, they need answer three moral wiggle room questions. The first one is a choice-to-reveal question, the second one is a revealed-unaligned-state question, and the third one is a revealed-aligned-state question. Through moral wiggle room, we plan to examine the correlation between excuse-driven risk preferences and excuse-driven types of participants.
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Field
Planned Number of Clusters
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Before
100 undergraduate students from Renmin University of China
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After
100 undergraduate students from Renmin University of China in each of the gain and loss experiments, that is 200 students in total
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Field
Planned Number of Observations
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Before
100 undergraduate students from Renmin University of China
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After
100 undergraduate students from Renmin University of China in each of the gain and loss experiments, that is 200 students in total
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Field
Sample size (or number of clusters) by treatment arms
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Before
Due to the within-subject design, all 100 subjects in the sample make all decision tasks in both treatments.
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After
Due to the between-subject design, 100 subjects in the sample make the gain experiment, and 100 subjects make the loss experiment.
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Field
Additional Keyword(s)
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Before
risk preferences, altruism, selfishness, prosocial behavior, externalities
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After
risk preferences, altruism, selfishness, prosocial behavior, externalities, moral wiggle room
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Field
Intervention (Hidden)
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Before
After reading instructions and correctly answering several understanding questions, participants are required to complete thirty price lists respectively in the gain and loss domain. These thirty price lists in each treatment include one “normalization” price list, one buffer price list and 28 valuation price lists. Each price list consists of a series of binary decisions. One randomly selected decision from all price lists of participants or their partners is implemented for extra payments and added to their initial endowment. After participants complete the price lists, they answer a questionnaire including demographic questions. All decisions in this study remain anonymous.
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After
In the gain or loss experiment, after reading instructions and correctly answering several understanding questions, participants are required to complete thirty price lists including one “normalization” price list, one buffer price list and 28 valuation price lists. Each price list consists of a series of binary decisions. One randomly selected decision from all price lists is implemented for extra payments and added to their initial endowment. After participants complete the price lists, they should answer three moral wiggle room questions, from which one randomly selected question is implemented for extra payments. Finally, they answer a questionnaire including demographic questions. All decisions in this study remain anonymous.
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