Household Investment in Traditional and Crypto Assets: Cross-country Evidence from a Randomized Control Trial

Last registered on October 07, 2024
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Pre-Trial

Trial Information

General Information

Title
Household Investment in Traditional and Crypto Assets: Cross-country Evidence from a Randomized Control Trial
RCT ID
AEARCTR-0014458
Initial registration date
September 24, 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
October 07, 2024, 6:53 PM EDT

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

Locations

Country
China
Region
Country
Germany
Region
Country
Japan
Region
Country
United States of America
Region

Primary Investigator

Name
Yoshiyuki Nakazono
Affiliation
Yokohama City University
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Other Primary Investigator(s)

PI Name
Minoru Masujima
PI Affiliation
SBI Financial and Economic Research Institute
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PI Name
Ryoichi Namba
PI Affiliation
SBI Financial and Economic Research Institute
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PI Name
Kento Tango
PI Affiliation
Yokohama City University
Contact Investigator
PI Name
Jun Takahashi
PI Affiliation
Yokohama City University
Contact Investigator

Additional Trial Information

Status
In development
Start date
2024-08-01
End date
2025-12-31
Keywords
Finance & Microfinance
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This study aims to analyze who participates in risky asset markets.
External Link(s)

Registration Citation

Citation
Masujima, Minoru et al. 2024. "Household Investment in Traditional and Crypto Assets: Cross-country Evidence from a Randomized Control Trial." AEA RCT Registry. October 07. https://doi.org/10.1257/rct.14458-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention (Hidden)
Intervention Start Date
2024-08-28
Intervention End Date
2024-10-31

Primary Outcomes

Primary Outcomes (end points)
Effects on risky-asset and crypto-asset purchases and desired portfolio allocations
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We randomly assign participants to either of the control group and treatment group. Participants were randomly allocated to one of 4 groups. One was control group. One group was provided with information about inflation (IMF forecast of inflation), another group with information on bitcoin prices only (returns for both over 5 and 10 years), and the other group with information on stock prices (returns for both over 5 and 10 years).
Experimental Design Details
Randomization Method
Stratified randomization by a survey company. The strata are based on sex (male/female) and age (20-29/30-39/40-49/50-59/60-79).
Randomization Unit
Individuals
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
4 groups
Sample size: planned number of observations
20,000-30,000 individuals
Sample size (or number of clusters) by treatment arms
15,000-20,000 individuals
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
SBI Financial and Economic Research Institute
IRB Approval Date
2024-08-01
IRB Approval Number
N/A
Analysis Plan

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