Financial Risk Perception; Reaction Time; Behavioral Finance; Cognitive Processing; Decision Making; Social Influence; Framing Effect
Description
This dataset contains trial-level behavioral data collected from a pilot experimental study (N = 28) investigating financial risk perception using reaction time (RT) as a process-level indicator. The experiment was implemented using PsychoPy (v2026.1.1) and designed to examine how emotional priming, framing effects (gain vs. loss), peer influence, and risk level affect decision latency and choice behavior. Each participant completed a series of randomized financial decision-making trials, where they selected between a low-risk guaranteed option and a high-risk probabilistic option. Reaction time was recorded as the interval between stimulus onset and participant response. The dataset includes variables related to: Participant identifiers and trial numbers Emotional condition (positive, neutral, negative) Framing condition (gain, loss) Peer influence (present, absent) Risk level (low, high) Response choice (risk-averse vs. risk-seeking) Reaction time (milliseconds) Accuracy and condition labels Data cleaning procedures were applied to exclude anticipatory (<200 ms) and delayed (>3000 ms) responses. The dataset reflects a partially crossed within-subjects design, consistent with the pilot nature of the study. This dataset is intended to support replication, methodological development, and further research in behavioral finance and decision sciences.
Files
Steps to reproduce
The experiment can be reproduced by implementing a within-subjects design using PsychoPy (v2026.1.1 or later), wherein each participant completes approximately 40 randomized financial decision-making trials. Each trial begins with a fixation cross (500 ms), followed by an emotionally valenced image (positive, neutral, or negative) presented for 1000 ms to induce affective priming. Subsequently, a financial decision scenario is displayed, presenting two options: a low-risk guaranteed return (Option A) and a high-risk probabilistic return (Option B), with framing manipulated as gain or loss and peer influence cues included in selected trials. Participants respond via keypress, and reaction time is recorded as the interval between stimulus onset and response. The trial concludes with a brief feedback screen (500 ms) and an inter-trial interval (1000 ms). Data should be recorded at the trial level, including condition labels (emotion, framing, peer, risk), response choice, and reaction time. Standard data cleaning procedures should be applied by excluding responses below 200 ms and above 3000 ms. Descriptive and inferential analyses can then be conducted to examine the effects of experimental manipulations, with results interpreted cautiously due to the partially balanced design.
Institutions
- Parul UniversityGujarat, Vadodara