The dynamics of trading narratives

Last registered on September 09, 2024
View Trial History

Pre-Trial

Trial Information

General Information

Title
The dynamics of trading narratives
RCT ID
AEARCTR-0014249
Initial registration date
August 23, 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, 3:21 PM EDT

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

Last updated
September 09, 2024, 10:40 AM EDT

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

Locations

Country
Germany
Region

Primary Investigator

Name
Cameron Peng
Affiliation
LSE
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Katrin Godker
PI Affiliation
Bocconi
Contact Investigator
PI Name
Christine Laudenbach
PI Affiliation
Goethe University
Contact Investigator

Additional Trial Information

Status
In development
Start date
2024-08-30
End date
2024-09-30
Keywords
Behavior, Finance & Microfinance
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We are interested in studying how the recall of trading narratives changes over time. In an earlier survey, which was run by a large German bank, we elicited investor recalls about their recent stock trading experiences and, in particular, the specific reasons why they traded. Now, in this follow-up survey, we are interested in studying how they recall the same trading experiences differently -- that is, how the narrative about the same trading episode changes over time.

When eliciting trading narratives, we contact the survey respondents again and remind them about the stock they traded last time. We then elicit their recalls about why they bought or sold a particular stock last time.
External Link(s)

Registration Citation

Citation
Godker, Katrin, Christine Laudenbach and Cameron Peng. 2024. "The dynamics of trading narratives." AEA RCT Registry. September 09. https://doi.org/10.1257/rct.14249-1.1
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2024-08-30
Intervention End Date
2024-09-30

Primary Outcomes

Primary Outcomes (end points)
Recall narratives of why people trade
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
In an earlier survey, there was randomization across investors on what kind of trade they are asked to recall. One third is asked to recall any trade. One third is asked to recall a purchase and the last one third is asked to recall a sale.

In the current survey, we contact all three groups and remind them about the stock they traded last time. We then elicit their recalls about why they bought or sold a particular stock last time. For these elicitations, we consider two types of method. The first is direct elicitation, without a further reminder. The second is to first ask them to recall the stock’s performance first, and then elicit the reason why they bought or sold this stock. We do not consider this as an intervention, but more of a robustness check of how results differ depending on different elicitation methods.
Experimental Design Details
Randomization Method
by computer
Randomization Unit
individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
1
Sample size: planned number of observations
1000
Sample size (or number of clusters) by treatment arms
333 for all three treatments
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
Goethe University
IRB Approval Date
2024-08-01
IRB Approval Number
N/A
Analysis Plan

Post-Trial

Post Trial Information

Study Withdrawal

There is information in this trial unavailable to the public. Use the button below to request access.

Request Information

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