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Eligibility and Guidelines (Small Grants)

The Russell Sage Behavioral Economics Roundtable offers small grants to support high quality research in behavioral economics and to encourage young investigators to enter this developing field. There are no limitations on the disciplinary background of the principal investigator, and the proposed research may address any economic topic. However, projects must contribute to the Foundation's mission to improve the social and living conditions in the U.S. Interdisciplinary efforts are welcome. Appropriate projects will demonstrate explicit use of psychological concepts in the motivation of the design and the preparation of the results. Experimental projects which do not have substantial behavioral content (such as market experiments testing neoclassical ideas) or substantial economic content (such as psychology experiments with no economic choices or strategic or market implications) will not be funded. This program will be administered under the auspices of the Behavioral Economics Roundtable, a group of researchers in behavioral economics formed by the Russell Sage Foundation to encourage inter-disciplinary research in behavioral economics.

The Russell Sage and the Alfred P. Sloan Working Group on Behavioral Economics and Consumer Finance offers small grants to support research in consumer finance using the theory and/or methods of behavioral economics. There are no limitations on the disciplinary background of the principal investigator and interdisciplinary efforts are welcome. Appropriate projects will demonstrate explicit use of behavioral concepts in the motivation of the research design and the preparation of the results.

Eligibility
Applicants must be advanced doctoral students or post-docs/junior (non-tenured) faculty members who have been out of graduate school for two or fewer years. All nationalities are eligible to apply.

For the Small Grants in Behavioral Economics, there are no further restrictions on eligibility.

For the Small Grants in Behavioral Economics and Consumer Finance, the program is further restricted to applicants who have been nominated by a member of the Russell Sage/Alfred P. Sloan Working Group on Behavioral Economics and Consumer Finance.

Members of the Behavioral Economics Roundtable and the Behavioral Economics and Consumer Finance Working Group are not eligible for grants directly. Their students and/or collaborators may receive grants, and members can be co-authors of papers produced under grants.

Application Components
•Proposal

•Budget

•Applicant CV(s)

•Fiscal agent letter

•Letter of recommendation from faculty advisor (doctoral students only) OR Letter of nomination from working group member

•Official transcripts (doctoral students only)

Proposal
Proposals should be submitted through the online application portal. The maximum length for the text of a proposal is 1,000 words, excluding budget and bibliography. Proposals should outline the basic rationale of the research, the question under study and the methods and analytic approach to be employed. The proposal should briefly discuss how the project would contribute to the Foundation's mission to improve the social and living conditions in the U.S.

Budget
The maximum budget is $7,500. There is a $10,000 combined lifetime limit for both the Behavioral Economics small grants program and the Consumer Finance small grants program.

Representative categories of expenditure include acquisition of data, the purchase of data sets, research assistance (but not including payment to any researchers who will be co-authors on the project), payment to subjects in experiments, miscellaneous expenses (such as xeroxing, telephone, postage). No funds will be granted for researchers' time. No more than $500 can be allocated to miscellaneous expenses. No funds can be spent on computer hardware or software. No overhead or indirect costs will be paid on these awards.

A budget that appears to be excessive will be grounds for rejecting a proposal.

Deadlines
Please note that there is no deadline for the small grants programs; applications are accepted on a rolling basis.

Review Process
Applications are generally reviewed within 6-8 weeks. Grants will be accepted or rejected with no possibility of subsequent negotiation.

Administrative Procedures
The award will be administered by the grantee's university which will act as the fiscal agent. The Russell Sage Foundation will pay the entire award in advance.

At the conclusion of the grant period, investigators must send a final substantive report of up to 1,000 words to the Foundation along with an official financial report from the fiscal agent and copies of all research papers supported by the award.

Click here for a list of frequently asked questions about applying for a small grant in behavioral economics.