Lifestyle Sustainability Information and Investment Decisions

Last registered on January 13, 2026
View Trial History

Pre-Trial

Trial Information

General Information

Title
Lifestyle Sustainability Information and Investment Decisions
RCT ID
AEARCTR-0017547
Initial registration date
January 05, 2026

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
January 06, 2026, 7:21 AM EST

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

Last updated
January 13, 2026, 5:12 AM EST

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

Locations

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

Request Information

Primary Investigator

Name
Monireh Ravanbakhshhabibabadi
Affiliation
University of Mannheim / ZEW
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Tabea Bucher-Koenen
PI Affiliation
University of Mannheim / ZEW
Contact Investigator

Additional Trial Information

Status
In development
Start date
2026-01-12
End date
2028-02-29
Keywords
Behavior, Finance & Microfinance
Additional Keywords
Sustainable Finance, Behavioral Finance, Household Finance, Lifestyle Sustainability
JEL code(s)
D14, G11, G41, G51, Q50
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This study investigates how tailored information about the sustainability of individuals’ lifestyles influences their investment decisions. The analysis is based on an online survey experiment conducted among retail investors in Germany. Additionally, the study examines whether the effects of this information vary with individuals’ pro-environmental preferences and beliefs.
External Link(s)

Registration Citation

Citation
Bucher-Koenen, Tabea and Monireh Ravanbakhshhabibabadi. 2026. "Lifestyle Sustainability Information and Investment Decisions." AEA RCT Registry. January 13. https://doi.org/10.1257/rct.17547-2.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
The intervention involves providing participants with personalized information about the sustainability level of their lifestyle to study how such information affects their investment decisions.

In addition, the survey elicits information on participants’ financial literacy, sustainable finance literacy, pro-environmental preferences and beliefs, expectations related to environmental issues, and basic sociodemographic characteristics, which are used to explore differences in responses across individuals.
Intervention Start Date
2026-01-12
Intervention End Date
2026-03-16

Primary Outcomes

Primary Outcomes (end points)
The share of money allocated to the low CO₂-intensity (sustainable) fund in each of the four hypothetical investment decisions.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Participants are randomly assigned to either a treatment or control group. In the treatment group, participants first answer a set of lifestyle-related questions and then receive tailored information based on their responses before making a series of investment decisions. In the control group, participants answer the same questions but receive the tailored information only after completing their investment decisions. These decisions involve allocating a hypothetical amount of money between a sustainable and a conventional fund.
Experimental Design Details
Not available
Randomization Method
Random assignment is implemented by the survey software with equal probability.
Randomization Unit
individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
2,000 individuals
Sample size: planned number of observations
2,000 individuals
Sample size (or number of clusters) by treatment arms
around 1,000 in control group
around 1,000 in 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
German Association for Experimental Economic Research e.V.
IRB Approval Date
2025-12-31
IRB Approval Number
7z2ZbTHm
Analysis Plan