Abstract
Incentivized experiments employ various designs of experimental currency units, yet there is typically little justification for choosing a particular currency framework. We study how different nominal values of experimental currency units affect risky decision-making in investment tasks. Our online experiments find no difference in risk-taking even if conversion rates vary by a factor of 1,000. Hence, we empirically reconfirm the experimental practice used for decades.
| Original language | English |
|---|---|
| Number of pages | 51 |
| DOIs | |
| Publication status | Published - 28 Mar 2025 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 9 Industry, Innovation, and Infrastructure
Keywords
- Experimental design
- experimental currency
- tangibility
- numerocity
- investment
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