Parental Beliefs, Public Policies, and Human Capital Investment: An Experimental Study

Last registered on August 28, 2024
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Pre-Trial

Trial Information

General Information

Title
Parental Beliefs, Public Policies, and Human Capital Investment: An Experimental Study
RCT ID
AEARCTR-0014203
Initial registration date
August 19, 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
August 28, 2024, 12:46 PM EDT

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

Locations

Country
United States of America
Region
Illinois

Primary Investigator

Name
GUGLIELMO BRISCESE
Affiliation
The University of Chicago
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Francesco Agostinelli
PI Affiliation
University of Pennsylvania
Contact Investigator

Additional Trial Information

Status
In development
Start date
2024-08-19
End date
2024-09-23
Keywords
Behavior, Education
Additional Keywords
College savings; human capital investment; parental beliefs
JEL code(s)
D14; H31; I22
Secondary IDs
C93
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This study investigates how parents' saving decisions for their children's college education are influenced by their beliefs and the policy environment. Using an experimental survey, we examine the impact of correcting parents' (mis)beliefs about the future costs of college and student loans interest rate. We will use the experimental data to identify a structural model that enables counterfactual policy experiments. Ultimately, the goal of the project is to provide novel evidence on how parental beliefs and public policies shape financial decisions for higher education.
External Link(s)

Registration Citation

Citation
Agostinelli, Francesco and GUGLIELMO BRISCESE. 2024. "Parental Beliefs, Public Policies, and Human Capital Investment: An Experimental Study." AEA RCT Registry. August 28. https://doi.org/10.1257/rct.14203-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
This study uses a survey experiment varying the hypothetical future student loans rate to elicit parents' willingness to invest in their child's higher education.
Intervention Start Date
2024-08-21
Intervention End Date
2024-09-22

Primary Outcomes

Primary Outcomes (end points)
Beliefs updating and willingness to save
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Income effects and support for related public policies.
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
This study involves a survey experiment on a representative sample of N=1,000 parents in the state of Illinois. The survey elicits parents' decisions for saving for their child's college under different policy scenarios.
Experimental Design Details
Randomization Method
Automatic randomization embedded within the survey platform.
Randomization Unit
Individual respondent level.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
0
Sample size: planned number of observations
1000
Sample size (or number of clusters) by treatment arms
500
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
See attached pre-analysis plan.
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
University of Chicago
IRB Approval Date
2024-06-20
IRB Approval Number
IRB24-0862
Analysis Plan

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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