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**Abstract:** We experimentally investigate an intervention that ought to motivate innovative behavior by changing risk perceptions. Participants run a virtual lemonade stand and face the tension brought on by the choice between exploiting a known strategy and exploring untested approaches. Being innovative and testing new approaches comes along with a risk of failure because participants are compensated based on the profits generated by their virtual business. We test whether we can draw attention away from this risk by implementing a reporting mechanism, which will focus participants on the input rather than the outcome of the innovative process. **Data Repository:** In this OSF project, the data of our experiment and the corresponding .do-File for the results reported in our manuscript are publicly deposited. **Pre-registration:** This study was pre-registered before data collection at the AEA RCT registry (ID: AEARCTR-0005214), available at **IRB:** This study was approved before data collection by the IRB of the University of Fribourg (Ref. #471).
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