AI-Augmented Crowdfunding Campaign: An Online Experiment

Last registered on December 24, 2023
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Pre-Trial

Trial Information

General Information

Title
AI-Augmented Crowdfunding Campaign: An Online Experiment
RCT ID
AEARCTR-0012732
Initial registration date
December 20, 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
December 21, 2023, 8:07 AM EST

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

Last updated
December 24, 2023, 12:35 AM EST

Last updated is the most recent time when changes to the trial's registration were published.

Locations

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Primary Investigator

Name
Teng Ye
Affiliation
University of Minnesota, Twin Cities
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Other Primary Investigator(s)

PI Name
Wei Ai
PI Affiliation
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PI Name
Qiaozhu Mei
PI Affiliation
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Additional Trial Information

Status
In development
Start date
2023-12-19
End date
2024-12-31
Keywords
Behavior, Finance & Microfinance
Additional Keywords
Crowdfunding, artificial intelligence
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We test the effectiveness of AI augmentation in crowdfunding campaign preparation. We use a randomized control trial design in which participants are randomly assigned to review various pairs of crowdfunding campaigns. These campaign info pages differ in their degree of AI augmentation. Analyzing the participants' preferences, we examine whether the crowdfunding campaign augmented by AI positively influences their propensity to contribute financially.
External Link(s)

Registration Citation

Citation
Ai, Wei, Qiaozhu Mei and Teng Ye. 2023. "AI-Augmented Crowdfunding Campaign: An Online Experiment." AEA RCT Registry. December 24. https://doi.org/10.1257/rct.12732-1.1
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
We deploy an RCT in online platform, Prolific, in which respondents are randomly assigned to different versions of surveys. The entire RCT will be survey-based, for which we present the interventions and collect participants' preferences.
Intervention Start Date
2023-12-19
Intervention End Date
2024-12-31

Primary Outcomes

Primary Outcomes (end points)
Participants' contribution preference towards crowdfunding campaigns
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Participants invited to the survey will be randomly presented with pairs of campaigns to evaluate. We designed three levels of AI augmentation to evaluate the effectiveness of incorporating AI in the crowdfunding context.
Experimental Design Details
Not available
Randomization Method
Randomization done by algorithm embedded in the survey
Randomization Unit
Pair of campaigns
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
We plan to recruit 200-400 participants.
Sample size: planned number of observations
We plan to recruit 200-400 participants.
Sample size (or number of clusters) by treatment arms
We will have about 200 - 600 observations per cell.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials

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IRB

Institutional Review Boards (IRBs)

IRB Name
University of Minnesota
IRB Approval Date
2023-12-20
IRB Approval Number
STUDY00021022
Analysis Plan