SOEP-IS G oup
Resea ch Repo
SOEP-IS 2023 - IRISK: Decision om desc ip ion s.
decision om expe ience
SOEP Su ey Pape s, No. 1487
P o ided in Coope a ion wi h:
Ge man Ins i u e o Economic Resea ch (DIW Be lin)
Sugges ed Ci a ion: SOEP-IS G oup (2025) : SOEP-IS 2023 - IRISK: Decision om desc ip ion
s. decision om expe ience, SOEP Su ey Pape s, No. 1487, Deu sches Ins i u ü
Wi scha s o schung (DIW), Ge man Socio-Economic Panel (SOEP), Be lin
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1487
2025
Se ies D – Va iable Desc ip ions and Coding
SOEP-IS 2023 – IRISK: Decision om
Desc ip ion s. Decision om Expe-
ience
SOEP-IS G oup
Running since 1984, he Ge man Socio-Economic Panel (SOEP) is a wide- anging ep esen a i e lon-
gi udinal s udy o p i a e households, loca ed a he Ge man Ins i u e o Economic Resea ch,
DIW Be lin.
The aim o he SOEP Su ey Pape s Se ies is o ho oughly documen he su ey’s da a collec ion and
da a p ocessing. The SOEP Su ey Pape s is comp ised o he ollowing se ies:
Se ies A – Su ey Ins umen s (E hebungsins umen e)
Se ies B – Su ey Repo s (Me hodenbe ich e)
Se ies C – Da a Documen a ion (Da endokumen a ionen)
Se ies D – Va iable Desc ip ions and Coding
Se ies E – SOEPmoni o s
Se ies F – SOEP Newsle e s
Se ies G – Gene al Issues and Teaching Ma e ials
The SOEP Su ey Pape s a e a ailable a h p://www.diw.de/soepsu eypape s
Edi o s:
D . Jan Goebel, DIW Be lin
D . Ch is ian Hunkle , DIW Be lin
P o . D . Philipp Le sch, DIW Be lin and Humbold -Uni e si ä zu Be lin
D . Le en Neyse, DIW Be lin and Be lin Social Science Cen e (WZB)
P o . D . Ca s en Sch öde , DIW Be lin and F eie Uni e si ä Be lin
P o . D . Sabine Zinn, DIW Be lin and Humbold -Uni e si ä zu Be lin
Please ci e his pape as ollows:
SOEP-IS G oup, 2025. SOEP-IS 2023 – IRISK: Decision om Desc ip ion s. Decision om Expe ience.
SOEP Su ey Pape s 1487: Se ies D – Va iable Desc ip ions and Coding. Be lin: DIW Be lin/SOEP
This wo k is licensed unde a C ea i e Commons A ibu ion-Sha eAlike 4.0 In e na ional License.
© 2025 by SOEP
ISSN: 2193-5580 (online)
DIW Be lin
Ge man Socio-Economic Panel (SOEP)
Moh ens . 58
10117 Be lin
Ge many
soeppape [email protected]
The Ge man Socio Economic Panel a DIW Be lin
SOEP-IS 2023 – IRISK: Decision om
Desc ip ion s. Decision om Expe ience
SOEP-IS G oup
2025
The ile i isk is pa o a collec ion, which is eleased wi h doi:10.5684/soep.is.2023.
SOEP Inno a ion Sample (2023) i isk
Con en s
1 O e iew 3
2 Va iables in File IRISK 3
pid – Ne e Changing Pe son Id ........................... 3
syea – Su ey-Yea ................................... 3
im_ isk – Inno a i e Module: Decisions om Desc ip ion and Expe ience . . . . 3
ask_o de – Task O de ................................ 4
ask – Task ....................................... 4
ail – T ail ....................................... 4
gamble – Gamble .................................... 5
sample_ind – Sample Index .............................. 5
ime – Unix Time S amp ................................ 6
decision_box – Chosen Box (Box Numbe , F om Le To Righ ) ........... 6
ou come – Ou come .................................. 6
eac _ ime – Reac ion Time (Milliseconds) ...................... 7
n op ion – Numbe o Op ions In Cu en Choice Se ................ 7
highe _op – Chose Highe -EV Op ion ........................ 8
iskie – Chose Riskie Op ion ............................ 8
ch_op ion – Chosen Op ion (Randomized Alloca ion o a/b/c/d o Boxes) . . . . . 8
condi ion – Condi ion O Choice Se ......................... 9
sample_box – Chosen Sample Box (Box Numbe , F om Le To Righ ) ....... 9
sample_ou – Sample Ou come ............................ 9
sample_op – Chosen Sample Op ion (Randomized Alloca ion o a/b/c/d o Boxes) 10
decision – Chosen Op ion In The Final Decision .................. 10
ou come1_a – Ou come 1 Op ion A .......................... 10
ou come2_a – Ou come 2 Op ion A .......................... 11
p obab1_a – P obabili y Ou come 1 Op ion A .................... 11
p obab2_a – P obabili y Ou come 2 Op ion A .................... 11
ou come1_b – Ou come 1 Op ion B .......................... 12
ou come2_b – Ou come 2 Op ion B .......................... 12
p obab1_b – P obabili y Ou come 1 Op ion B .................... 12
p obab2_b – P obabili y Ou come 2 Op ion B .................... 12
ou come1_c – Ou come 1 Op ion C .......................... 13
ou come2_c – Ou come 2 Op ion C .......................... 13
p obab1_c – P obabili y Ou come 1 Op ion C ..................... 13
p obab2_c – P obabili y Ou come 2 Op ion C .................... 14
ou come1_d – Ou come 1 Op ion D .......................... 14
ou come2_d – Ou come 2 Op ion D ......................... 14
p obab1_d – P obabili y Ou come 1 Op ion D .................... 14
p obab2_d – P obabili y Ou come 2 Op ion D .................... 15
SOEP Su ey Pape s 1487 2
SOEP Inno a ion Sample (2023) i isk
1 O e iew
Decisions om desc ip ion and decisions om expe ience. The choice ask in he desc ip ion
pa adigm consis s o wo mone a y gambles wi h explici ly s a ed ou comes and p obabili-
ies. In u n, he decisions om expe ience pa adigm consis s o an ini ial sampling s age
in which a pe son explo es wo payo dis ibu ions wi hou cos s by clicking on one o he
wo bu ons on he compu e sc een, ollowed by an ou come d awn om he espec i e dis-
ibu ion. A e e mina ing sampling, he pe son sees a choice sc een and is asked o selec
he bu on o d aw once o eal.
We used a wi hin-subjec design in which indi iduals we e asked o choose be ween mone-
a y gambles in wo blocks o ials, one in ol ing decisions om desc ip ion, and ano he ,
decisions om expe ience, wi h he p esen a ion o de being coun e balanced ac oss pa i-
cipan s. Pa icipan s we e asked o pe o m 4 choices wi hin each block. Se size was mani-
pula ed o es o in o ma ion o e load e ec s because p e ious wo k sugges s ha mo e
cogni i ely demanding asks lead o signi ican indi idual and age di e ences in isk aking
( wo s. ou op ions; c . F ey, Ma a, & He wig, 2013; Hills Noguchi, & Gibbe , 2013; Ma a
e al., 2011). In sum, he design will be 2 ( o ma : desc ip ion s. expe ience) x 2 (se size: wo
s. ou op ions).
2 Va iables in File IRISK
pid – Ne e Changing Pe son Id
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
syea – Su ey-Yea
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
im_ isk – Inno a i e Module: Decisions om Desc ip ion and Expe ience
0[0] Does No Apply 0
SOEP Su ey Pape s 1487 3
SOEP Inno a ion Sample (2023) i isk
1[1] Does Apply 43677
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ask_o de – Task O de
1[1] Spli 1:O de d d_d e 21040
2[2] Spli 2:O de d e_d d 22637
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ask – Task
1[1] Decisions om desc ip ion (d d) 3948
2[2] Decisions om expe ience (d e) 39729
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ail – T ail
1[1] T ial 1 13005
2[2] T ial 2 9706
3[3] T ial 3 9301
4[4] T ial 4 11665
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
SOEP Su ey Pape s 1487 4
SOEP Inno a ion Sample (2023) i isk
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
gamble – Gamble
1[1] Gamble 1 (2 Op ions) 11988
2[2] Gamble 2 (2 Op ions) 8517
3[3] Gamble 3 (4 Op ions) 10490
4[4] Gamble 4 (4 Op ions) 12682
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
sample_ind – Sample Index
0 113
1 3835
2 3620
3 3194
4 2928
5 2332
6 1948
7 1745
8 1626
9 1366
10 1236
11 1149
12 1079
13 940
14 866
... (333 ows omi ed) 11745
348 1
349 1
350 1
351 1
352 1
353 1
354 1
-1 No Answe 0
SOEP Su ey Pape s 1487 5
SOEP Inno a ion Sample (2023) i isk
-2 Does no apply 3948
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ime – Unix Time S amp
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
decision_box – Chosen Box (Box Numbe , F om Le To Righ )
1 16900
2 15237
3 5959
4 5581
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ou come – Ou come
0 14534
3 17489
4 11028
32 462
34 55
68 109
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
SOEP Su ey Pape s 1487 6
SOEP Inno a ion Sample (2023) i isk
-1 No Answe 0
-2 Does no apply 0
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ou come1_c – Ou come 1 Op ion C
3 23172
-1 No Answe 0
-2 Does no apply 20505
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ou come2_c – Ou come 2 Op ion C
0 23172
-1 No Answe 0
-2 Does no apply 20505
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
p obab1_c – P obabili y Ou come 1 Op ion C
1 23172
-1 No Answe 0
-2 Does no apply 20505
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
SOEP Su ey Pape s 1487 13
SOEP Inno a ion Sample (2023) i isk
p obab2_c – P obabili y Ou come 2 Op ion C
0 23172
-1 No Answe 0
-2 Does no apply 20505
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ou come1_d – Ou come 1 Op ion D
4 23172
-1 No Answe 0
-2 Does no apply 20505
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
ou come2_d – Ou come 2 Op ion D
0 23172
-1 No Answe 0
-2 Does no apply 20505
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
p obab1_d – P obabili y Ou come 1 Op ion D
0.7 23172
-1 No Answe 0
-2 Does no apply 20505
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
SOEP Su ey Pape s 1487 14
SOEP Inno a ion Sample (2023) i isk
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
p obab2_d – P obabili y Ou come 2 Op ion D
0.3 23172
-1 No Answe 0
-2 Does no apply 20505
-3 Answe imp obable 0
-4 Inadmissible mul iple esponse 0
-5 No included in his e sion o he ques ionnai e 0
-6 Ve sion o ques ionnai e wi h modi ied il e ing 0
-7 Only a ailable in less es ic ed edi ion 0
-8 Ques ion no pa o he su ey p og am his yea 0
SOEP Su ey Pape s 1487 15
