Publications by authors named "Medardo Restrepo"
Article Synopsis
- A lab-in-the-field experiment with 214 Colombian rural workers explored their choices between cash or voucher payments for completing tasks, revealing that voucher uptake increased from 32% to 56% as their values became more generous.
- The study found that these uptake rates were significantly higher than those of a local group of undergraduate students, suggesting the rural workers were more receptive to vouchers.
- Additionally, presenting voucher options in descending order led to higher uptake compared to ascending order, indicating that the perceived risk reduction associated with vouchers creates an endowment effect.
