Influencing Retail Investor Behavior Through Messages: An Experimental Study in Green Investing

Last registered on June 24, 2024

Pre-Trial

Trial Information

General Information

Title
Influencing Retail Investor Behavior Through Messages: An Experimental Study in Green Investing
RCT ID
AEARCTR-0013828
Initial registration date
June 17, 2024

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 24, 2024, 2:08 PM EDT

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

Locations

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Primary Investigator

Affiliation
Universität Hamburg

Other Primary Investigator(s)

PI Affiliation
Universität Hamburg

Additional Trial Information

Status
In development
Start date
2024-06-22
End date
2024-08-31
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We study the impact of messages on subjects' green investment behavior.
External Link(s)

Registration Citation

Citation
Eiler, Tobias and Markus Nöth. 2024. "Influencing Retail Investor Behavior Through Messages: An Experimental Study in Green Investing." AEA RCT Registry. June 24. https://doi.org/10.1257/rct.13828-1.0
Experimental Details

Interventions

Intervention(s)
Before subjects allocate funds to various assets in an investment task, we expose those in the treatment groups to a message about green investing. A control group without treatment will serve as baseline for comparison.
Intervention Start Date
2024-06-22
Intervention End Date
2024-08-31

Primary Outcomes

Primary Outcomes (end points)
Willingness to pay, beliefs about green investing, level of effort, and asset allocation decisions
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We designed an experimental study to investigate our hypotheses, with subjects engaging in a non-competing single-player environment. Subjects will receive a message treatment about green investing. A control group without treatment will serve as baseline for comparison. Our key variables of interest include willingness to pay, beliefs about green investing, level of effort, and asset allocation decisions. Our research investigates how exposure to diverse messages about green investing influences decision-making processes, beliefs, and motivation to seek information about carbon offsets, providing insights into the impact of external messages on subjects' behaviors and beliefs toward green investments.
Experimental Design Details
Not available
Randomization Method
Computer
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
150 subjects
Sample size: planned number of observations
150 subjects
Sample size (or number of clusters) by treatment arms
50 subjects per treatment/control group (approximately)
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB

Institutional Review Boards (IRBs)

IRB Name
Fakultät für Betriebswirtschaft, Universität Hamburg
IRB Approval Date
2024-06-12
IRB Approval Number
N/A