Financial Literacy and Behavior

Last registered on August 10, 2023
View Trial History

Pre-Trial

Trial Information

General Information

Title
Financial Literacy and Behavior
RCT ID
AEARCTR-0011496
Initial registration date
July 31, 2023

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
August 10, 2023, 12:50 PM EDT

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

Locations

Country
Japan
Region

Primary Investigator

Name
Taizo Motonishi
Affiliation
Kansai University
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Other Primary Investigator(s)

PI Name
Kayoko Kobayashi
PI Affiliation
Nanzan University
Contact Investigator

Additional Trial Information

Status
Completed
Start date
2023-03-08
End date
2023-03-14
Keywords
Behavior, Education, Finance & Microfinance
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
Improving financial literacy does not always encourage people to behave correctly in various phases of financial transactions. Therefore, finding ways to translate improved financial literacy into actual improvements in financial behavior is important for effective financial education. Through a survey experiment in Japan, this project will clarify the impact of information interventions in financial transaction settings on rational financial behavior based on financial literacy.
External Link(s)

Registration Citation

Citation
Kobayashi, Kayoko and Taizo Motonishi. 2023. "Financial Literacy and Behavior." AEA RCT Registry. August 10. https://doi.org/10.1257/rct.11496-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
The vignette survey experiment in an online survey.
Intervention Start Date
2023-03-08
Intervention End Date
2023-03-14

Primary Outcomes

Primary Outcomes (end points)
The answer to a quiz in a financial transaction situation.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Three vignettes depicting financial transaction scenes are provided. Respondents are randomly assigned to one of these vignettes. After reading the vignettes, respondents answer a quiz related to the financial transaction scene.

Questions following the quiz collect information about the respondent's preference.
Experimental Design Details
Randomization Method
Randomization done through survey platform
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
No clusters
Sample size: planned number of observations
11,000 online survey participants
Sample size (or number of clusters) by treatment arms
3,700 control
3,700 treatment 1
3,700 treatment 2
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
IRB of the Research Institute for Socionetwork Strategies at Kansai University
IRB Approval Date
2023-02-16
IRB Approval Number
2022032
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