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Debt aversion experiment: A replication with student participants

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  • Kazunori Yakushiji
  • Jieyi Duan
  • Nobuyuki Hanaki

Abstract

We conduct a replication experiment of the three main treatments of the debt aversion experiment by Mart´ınez-Marquina and Shi (2024) with student participants. While participants in our experiment choose returnmaximizing strategies much more frequently than those in Mart´ınez-Marquina and Shi (2024), our findings corroborate their observations that participants burdened with debt tend to forego the “certain and maximum profit investment opportunity” in favor of prioritizing debt repayment.

Suggested Citation

  • Kazunori Yakushiji & Jieyi Duan & Nobuyuki Hanaki, 2024. "Debt aversion experiment: A replication with student participants," ISER Discussion Paper 1269r, Institute of Social and Economic Research, The University of Osaka, revised Jun 2025.
    • Handle: RePEc:dpr:wpaper:1269r
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