Information about Green Finance

Last registered on September 17, 2024
View Trial History

Pre-Trial

Trial Information

General Information

Title
Information about Green Finance
RCT ID
AEARCTR-0014346
Initial registration date
September 11, 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
September 17, 2024, 11:51 AM EDT

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

Locations

Country
Germany
Region

Primary Investigator

Name
Johannes Beutel
Affiliation
Deutsche Bundesbank
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Monika Piazzesi
PI Affiliation
Stanford University
Contact Investigator
PI Name
Martin Schneider
PI Affiliation
Stanford University
Contact Investigator
PI Name
Shifrah Aron-Dine
PI Affiliation
Stanford University
Contact Investigator

Additional Trial Information

Status
Completed
Start date
2021-11-01
End date
2022-06-30
Keywords
Behavior, Finance & Microfinance
Additional Keywords
Household Finance, Climate Finance, Expectation Formation
JEL code(s)
G11, G12, G41, G51, G53, D84, E44
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We field a randomized control trial (RCT) with information treatments related
to green investing. We split the sample randomly into a control group with approximately 2,000
(untreated) respondents and four treatment groups with approximately 1,000 respondents each.
Respondents in each treatment group were shown a brief information statement before answering
our questions. The treatments provided information on risk-return trade-offs in risky investments (T1), the past performance of green and traditional equity (T2), the investment freedom of traditional equity funds (T3), and the potential for green equity to contribute to climate change mitigation (T4). Respondents in the control group receive no information. Post treatment, we elicit in particular respondents' expected returns for green and traditional equity.
External Link(s)
Bundesbank Survey of Consumer Expectations Website

Registration Citation

Citation
Aron-Dine, Shifrah et al. 2024. "Information about Green Finance." AEA RCT Registry. September 17. https://doi.org/10.1257/rct.14346-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
We field a randomized control trial (RCT) with information treatments related
to green investing. We split the sample randomly into a control group with approximately 2,000
(untreated) respondents and four treatment groups with approximately 1,000 respondents each.
Respondents in each treatment group were shown a brief information statement before answering
our questions. The treatments provided information on risk-return trade-offs in risky investments (T1), the past performance of green and traditional equity (T2), the investment freedom of traditional equity funds (T3), and the potential for green equity to contribute to climate change mitigation (T4). Respondents in the control group receive no information. Post treatment, we elicit in particular respondents' beliefs about the expected return and risk of green and traditional equity.
Intervention Start Date
2021-11-01
Intervention End Date
2021-12-31

Primary Outcomes

Primary Outcomes (end points)
Expected Returns
Primary Outcomes (explanation)
By what percentage do you think the value of your investment would change over the next twelve months? Note: Please enter a value in each input field (values may have one decimal place). If you expect the value to fall, please enter a negative number
(a) traditional equity fund: input field percent
(b) sustainable equity fund: input field percent

Secondary Outcomes

Secondary Outcomes (end points)
THE FULL QUESTIONNAIRE WILL BE AVAILABLE ON THE WEBSITE OF THE BUNDESBANK SURVEY OF CONSUMER EXPECTATIONS (SEE LINK) SHORTLY AFTER THE FIELD PERIOD OF THE NOVEMBER 2021 WAVE.
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We field a randomized control trial (RCT) with information treatments related
to green investing. We split the sample randomly into a control group with approximately 2,000
(untreated) respondents and four treatment groups with approximately 1,000 respondents each.
Respondents in each treatment group were shown a brief information statement before answering
our questions. The treatments provided information on risk-return trade-offs in risky investments (T1), the past performance of green and traditional equity (T2), the investment freedom of traditional equity funds (T3), and the potential for green equity to contribute to climate change mitigation (T4). Respondents in the control group receive no information. Post treatment, we elicit in particular respondents' expected returns for green and traditional equity.
Experimental Design Details
We field a randomized control trial (RCT) with information treatments related
to green investing. We split the sample randomly into a control group with approximately 2,000
(untreated) respondents and four treatment groups with approximately 1,000 respondents each.
Respondents in each treatment group were shown a brief information statement before answering
our questions. The treatments provided information on risk-return trade-offs in risky investments (T1), the past performance of green and traditional equity (T2), the investment freedom of traditional equity funds (T3), and the potential for green equity to contribute to climate change mitigation (T4). Respondents in the control group receive no information. Post treatment, we elicit in particular respondents' expected returns for green and traditional equity.
Randomization Method
Randomization done by a computer.
Randomization Unit
Individuals.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
no clustering
Sample size: planned number of observations
6,000 individuals
Sample size (or number of clusters) by treatment arms
approximately:
2,000 in the control group
1,000 in each treatment group
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
IRB Approval Date
IRB Approval Number
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