التفاصيل البيبلوغرافية
| العنوان: |
Does it Pay to Send Multiple Pre-Paid Incentives? Evidence from a Randomized Experiment. |
| المؤلفون: |
Chang, Andrew C.1 andrew.c.chang@frb.gov, Hsu, Joanne W.2 jwhsu@umich.edu, Ma, Eva1 eva.ma@frb.gov, Bachtell, Kate3 bachtell-kate@norc.org, Sjoblom, Micah3 sjoblom-micah@norc.org |
| المصدر: |
Working Papers: U.S. Federal Reserve Board's Finance & Economic Discussion Series. Apr2024, p1-22. 23p. |
| مصطلحات موضوعية: |
*MONETARY incentives, *PERSONAL finance, *RESPONSE rates, DATA quality, SURVEYS |
| مستخلص: |
To encourage survey participation and improve sample representativeness, the Survey of Consumer Finances (SCF) offers an unconditional pre-paid monetary incentive and separate post-paid incentive upon survey completion. We conducted a pre-registered between-subject randomized control experiment within the 2022 SCF, with at least 1,200 households per experimental group, to examine whether changing the pre-paid incentive structure affects survey outcomes. We assess the effects of: (1) altering the total dollar value of the pre-paid incentive ("incentive effect"), (2) giving two identical pre-paid incentives holding the total dollar value fixed ("reminder effect"), and (3) offering multiple pre-paid incentives of different amounts holding the total dollar value fixed ("slope effect") on survey response rates, interviewer burden, and data quality. Our evidence indicates that a single $15 pre-paid incentive increases response rates and maintains similar levels of interviewer burden and data quality, relative to a single $5 pre-paid incentive. Splitting the $15 into two pre-paid incentives of different amounts increases interviewer burden though lengthening time in the field without improving response rates, reducing the number of contact attempts needed for a response, or improving data quality, regardless of whether the first pre-paid is larger or smaller than the second. [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
Business Source Index |
