New financial product introduction and pro-social attitudes

Last registered on November 30, 2022


Trial Information

General Information

New financial product introduction and pro-social attitudes
Initial registration date
November 23, 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
November 30, 2022, 3:24 PM EST

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


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Primary Investigator

Erasmus University

Other Primary Investigator(s)

PI Affiliation
Hong Kong University of Science and Technology
PI Affiliation
University of St. Gallen
PI Affiliation

Additional Trial Information

In development
Start date
End date
Secondary IDs
Prior work
This trial is based on or builds upon one or more prior RCTs.
In this project, we study the impact of the introduction of a new financial product, mobile banking (savings), on attitudes towards sharing money with others. Our study is motivated by previous findings that formal financial products allow people to "hide" savings from social pressure (Carranza et al., 2022 and Riley, 2022 among others) as well as the literature showing that exposure to financial products and financial markets can affect attitudes towards sharing money with a spouse (Riley, 2022), political views (Kaustia et al. 2016, Jha, 2015), attitudes towards risk (Lu et al. 2022), attitudes towards meritocracy and personal responsibility (Margalit and Shayo, 2021) as well as attitudes towards peace and interethnic conflict (Jha and Shayo, 2019). Our project sits at the interaction of these two literatures. Our goal is to study whether being introduced to mobile banking affects attitudes towards sharing and whether this is driven by a wealth/savings effect.

To do this, we conduct an RCT in which people are given cash grants either in the form of cash, a transfer to a mobile bank account or a transfer to a mobile bank account with an incentive to save. We track people's attitudes towards sharing with others using repeated surveys over a 6-8 month horizon in which we measure attitudes (along with a range of other outcomes - we are using the same infrastructure as in another RCT).
External Link(s)

Registration Citation

Mugabe, George et al. 2022. "New financial product introduction and pro-social attitudes." AEA RCT Registry. November 30.
Experimental Details


We will give money grants to all subjects, with some people receiving the grant in cash and others in the form of a transfer to a mobile bank account. The mobile banking arm will further be randomized into an "incentivized usage" arm in which participants are offered cash incentives to provide evidence of saving in the bank account.
Intervention Start Date
Intervention End Date

Primary Outcomes

Primary Outcomes (end points)
Various measures of willingness to share resources with others
Primary Outcomes (explanation)
The variables will be collected using surveys.

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We will randomise subjects into three treatment arms.
Experimental Design Details
Not available
Randomization Method
Cluster randomisation will be done in office by a computer
Randomization Unit
Randomisation will be done at individual level
Was the treatment clustered?

Experiment Characteristics

Sample size: planned number of clusters
There will be 3 clusters. First cluster will be distributed cash. Second cluster will be given mobile money. Third cluster will be given mobile money with savings incentive.
Sample size: planned number of observations
Total number of participants in two campuses (Kigali and Kiziba campuses of Kepler in Rwanda) is estimated to be around 600.
Sample size (or number of clusters) by treatment arms
Participants will be evenly distributed among 3 clusters.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)

Institutional Review Boards (IRBs)

IRB Name
Hong Kong University of Science and Technology
IRB Approval Date
IRB Approval Number