{"id":119826,"date":"2021-11-09T17:07:27","date_gmt":"2021-11-09T16:07:27","guid":{"rendered":"https:\/\/www.ieseg.fr\/?post_type=events&p=119826"},"modified":"2021-11-09T17:07:27","modified_gmt":"2021-11-09T16:07:27","slug":"research-seminar-irisk-kemel","status":"publish","type":"events","link":"https:\/\/www.ieseg.fr\/en\/events\/research-seminar-irisk-kemel\/","title":{"rendered":"[Research Seminar] IRISK: “A convenient truth: Between-subject random incentives and preferences towards risk and time” E. KEMEL – HEC"},"content":{"rendered":"

\"\"<\/p>\n

Speakers: Emmanuel KEMEL
\n<\/strong>HEC Paris – CNRS<\/p>\n

Date and Location – Thursday December 9th 2021 from 14:00 to 15:30
\nin R217 (Lille campus) and on Zoom<\/strong><\/p>\n

—————————————–<\/p>\n

ABSTRACT<\/h2>\n

The random incentive system (RIS) is the gold standard real-incentive mechanism in economic experiments: one of the choices made by each subject is played for real. In a variation of this mechanism, called hybrid RIS, each subject has a selection probability p for RIS to apply to her choices. With this mechanism, RIS applies only to a fraction of subjects, thereby reducing experimental costs, or allowing the consider larger experimental payoffs.<\/p>\n

This paper reports an experiment that evaluates this mechanism, by testing the impact of the selection probability p on risk and time preferences. Certainty equivalents and sooner equivalents are measured under four between-subject treatments: p=0, p=0.1, p=0.5 and p=1. The data are analysed using model-free statistics and structural estimations of decision models.<\/p>\n

Time preferences are not impacted by the selection probability. More risk tolerance is observed when p=0 than when p>0, but no effect is captured regarding the magnitude of the non-zero selection probability. These results point to a \u201cconvenient truth\u201d: experimentalist can use hybrid RIS to reduce experimental costs or consider larger choice outcomes, without distorting observed preferences.<\/p>\n

More<\/strong> Info<\/a>
\nJoin<\/strong> the webinar<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Speakers: Emmanuel KEMEL HEC Paris – CNRS Date and Location – Thursday December 9th 2021 from 14:00 to 15:30 in R217 (Lille campus) and on Zoom —————————————– ABSTRACT The random […]<\/p>\n","protected":false},"featured_media":0,"template":"","events-category":[66,166],"acf":[],"yoast_head":"\n[Research Seminar] IRISK: "A convenient truth: Between-subject random incentives and preferences towards risk and time" E. 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