A psychological intervention and financial literacy. A lab experiment.

Last registered on June 23, 2023


Trial Information

General Information

A psychological intervention and financial literacy. A lab experiment.
Initial registration date
June 14, 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
June 23, 2023, 4:40 PM EDT

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


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Primary Investigator

Stanford University

Other Primary Investigator(s)

Additional Trial Information

In development
Start date
End date
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Entrepreneurs are important drivers of development. Nevertheless, existing entrepreneur training programs had small and heterogeneous impacts. This project explores whether a mostly psychological intervention can make early-stage entrepreneurs believe in their abilities to improve in any skill and be able to actually do so, thereby bridging the gap between the needs of developing country entrepreneurs and the often Silicon Valley-influenced expectations of accelerators. This project runs an online lab experiment with participants who have a connection to entrepreneurship recruited from Amazon MTurk's India-based workers and Prolific's USA-based workers. The study tests whether a mostly psychological intervention is a viable way to encourage participants to believe in their abilities to improve their financial literacy (or any other skill) and to lead to actual improvements.
External Link(s)

Registration Citation

Zempleni, Reka. 2023. "A psychological intervention and financial literacy. A lab experiment.." AEA RCT Registry. June 23. https://doi.org/10.1257/rct.11574-1.0
Experimental Details


See under experimental design
Intervention Start Date
Intervention End Date

Primary Outcomes

Primary Outcomes (end points)
Financial literacy game performance and effort; change in financial literacy and in beliefs about one's ability to improve at financial literacy and other skills
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Online survey with an RCT approach. (Details hidden)
Experimental Design Details
Not available
Randomization Method
Qualtrics software
Randomization Unit
Individual participant
Was the treatment clustered?

Experiment Characteristics

Sample size: planned number of clusters
Individual units are used, no clusters
Sample size: planned number of observations
150-200 across the two sources
Sample size (or number of clusters) by treatment arms
1/2 treatment and 1/2 control
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)

Institutional Review Boards (IRBs)

IRB Name
Administrative Panel on Human Subjects in Non-Medical Research of Stanford University
IRB Approval Date
IRB Approval Number