Frameworks and strategic decision-making

Last registered on October 03, 2022
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Pre-Trial

Trial Information

General Information

Title
Frameworks and strategic decision-making
RCT ID
AEARCTR-0010146
Initial registration date
September 29, 2022

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
October 03, 2022, 5:35 PM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

Country
Singapore
Region

Primary Investigator

Name
Hyunjin Kim
Affiliation
Harvard University
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Other Primary Investigator(s)

PI Name
Nety Wu
PI Affiliation
INSEAD
Contact Investigator

Additional Trial Information

Status
In development
Start date
2022-09-29
End date
2023-09-30
Keywords
Behavior, Firms & Productivity
Additional Keywords
Strategic decision-making
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This project aims to understand how using a framework affects the crafting of strategic options.
External Link(s)

Registration Citation

Citation
Kim, Hyunjin and Nety Wu. 2022. "Frameworks and strategic decision-making." AEA RCT Registry. October 03. https://doi.org/10.1257/rct.10146-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
See details.
Intervention Start Date
2022-09-30
Intervention End Date
2022-10-05

Primary Outcomes

Primary Outcomes (end points)
We will observe the following outcomes:
(1) the number of total options that the student brainstormed
(2) the number/share of strategic (rather than operational) options that the student brainstormed
(3) a binary measure of whether the options were mutually exclusive
(4) the number/share of options that suggest that the company continue its current strategy (vs. exit or expand)
(5) binary measures of whether the best-chosen option is to "continue", "exit", or "expand"
Primary Outcomes (explanation)
Some of the measures will be coded by two independent coders using a rubric who are blind to the random assignment, e.g.:
(1) whether the options are strategic or operational
(2) whether the options are mutually exclusive
(3) whether the options suggest that the company continue its current strategy vs. exit or expand

Secondary Outcomes

Secondary Outcomes (end points)
Peer evaluations of option quality, binary variable on how detailed the option is, various details about the nature of the option, group-level outcomes on strategic options
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
This project aims to understand how using a framework affects the crafting of strategic options.
Experimental Design Details
We plan to run an experiment where participants will be asked to brainstorm strategic options for a firm described in a short case. The experiment will be conducted across MBA students in an elite business school. This experiment will be embedded within an exercise designed for a class session, where students will be randomized into two groups and placed in two different rooms.

All students will be asked to brainstorm all available strategic options and indicate which they think is the best. They will then be put into groups, where they will continue brainstorming.

The experiment randomly varies the instructions students receive at the top of the online survey.
Randomization Method
Individuals are randomized into control and treatment by stratifying on gender and industry, using a computer.
Randomization Unit
Randomization is conducted at the individual level. Each participant is first randomly assigned to the treatment or the control group, stratified on gender and industry. Then, within each group, participants are randomly assigned to subgroups for further brainstorming of options.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
N/A
Sample size: planned number of observations
112 students
Sample size (or number of clusters) by treatment arms
56 participants control, 56 participants treatment
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
The INSEAD Institutional Review Board
IRB Approval Date
2022-09-27
IRB Approval Number
2022-67mba
Analysis Plan

Post-Trial

Post Trial Information

Study Withdrawal

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Intervention

Is the intervention completed?
No
Data Collection Complete
Data Publication

Data Publication

Is public data available?
No

Program Files

Program Files
Reports, Papers & Other Materials

Relevant Paper(s)

Reports & Other Materials