In this demo we only consider the Plane study and only the first three countries: Austria, Brazil, and Canada. For the Plane study, we coded the participants response as a binary variable: for each coupon type (purchased or free) we transformed the response “Pay your friend” in 1, and in 0 otherwise. We the computed the effect size according to:
\(log(OR) = log(\frac{a/b}{c/d})\)
where a is the number of 1s in the purchased condition, b is the number of 0s in the purchased condition, c is the number of 1s in the free condition, and d is the number of 0s in the free condition.
Each smaller dot represents one country (random effect), and the green dot and bar indicate the mean pooled effect and its 95% Credible Intervals (CIs).
Unpooled Analysis
In this section we perform a Bayesian unpooled analysis. We will compute the effect size for each country independently.
Finally, we performed a Bayesian unpooled analysis to explore the role of financial literacy (i.e., are people with higher levels of financial literacy less susceptible to the mental accounting effect?), age, gender, and income.
It will take about 2 minutes to run the cell below