Financial Decision-Making Among Young Adults in Germany

Last registered on January 06, 2026
View Trial History

Pre-Trial

Trial Information

General Information

Title
Financial Decision-Making Among Young Adults in Germany
RCT ID
AEARCTR-0017551
Initial registration date
December 23, 2025

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, 6:52 AM EST

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

Locations

Country
Germany
Region

Primary Investigator

Name
Tim Kaiser
Affiliation
RPTU University Kaiserslautern-Landau & Kiel Institute
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Tabea Bucher-Koenen
PI Affiliation
ZEW Mannheim
Contact Investigator
PI Name
Leah Zimmerer
PI Affiliation
ZEW Mannheim
Contact Investigator
PI Name
Sara Gregori
PI Affiliation
RPTU University Kaiserslautern-Landau & ZEW Mannheim
Contact Investigator

Additional Trial Information

Status
On going
Start date
2025-12-23
End date
2026-01-31
Keywords
Education, Finance & Microfinance
Additional Keywords
financial literacy; financial education;consumer finance; payment services; financial inclusion; buy now pay later (BNPL)
JEL code(s)
G53, G51, G41, C93, R22
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This study examines how information about Buy Now, Pay Later (BNPL) products affects financial knowledge and hypothetical payment choices among young adults in Germany. We conduct a randomized controlled online experiment with individuals aged 18–30. Participants are randomly assigned to one of three information conditions: (i) a short educational video on BNPL, (ii) a text-based BNPL information treatment, or (iii) a placebo information treatment on an unrelated financial topic. After the information intervention, participants complete a series of hypothetical purchase scenarios in which the outside option is always an immediate lump-sum payment at checkout. The alternative payment option varies experimentally along five dimensions: (A) payment structure (installment payment versus delayed lump-sum payment), (B) time frame, (C) cost framing , (D) good type (TV versus shoes), and (E) cost of credit. The primary estimands are the effects of information provision and delivery mode on the probability of choosing the alternative payment option over immediate payment and the relative importance of the Payment details (interactions between treatment and dimensions). The design allows us to test mechanisms related to cost salience, framing, and intertemporal trade-offs in consumer payment choice.
External Link(s)

Registration Citation

Citation
Bucher-Koenen, Tabea et al. 2026. "Financial Decision-Making Among Young Adults in Germany." AEA RCT Registry. January 06. https://doi.org/10.1257/rct.17551-1.0
Sponsors & Partners

Sponsors

Experimental Details

Interventions

Intervention(s)
We conduct a randomized controlled online experiment with individuals aged 18–30. Participants are randomly assigned to one of three information conditions: (i) a short educational video on BNPL, (ii) a text-based BNPL information treatment, or (iii) a placebo information treatment on an unrelated financial topic (social trading).
Intervention (Hidden)
Intervention Start Date
2025-12-23
Intervention End Date
2026-01-31

Primary Outcomes

Primary Outcomes (end points)
Indicator for choosing the alternative payment option (installment payment or delayed lump-sum payment) over immediate lump-sum payment in the hypothetical purchase scenarios.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We conduct a randomized controlled online experiment with individuals aged 18–30. Participants are randomly assigned to one of three information conditions: (i) a short educational video on BNPL, (ii) a text-based BNPL information treatment, or (iii) a placebo information treatment on an unrelated financial topic (social trading). Randomization is at the individual level. Features of the BNPL plans presented in the hypothetical vignette are randomly assigned at the choice-level.
Experimental Design Details
Randomization Method
randomization done by survey software
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
0
Sample size: planned number of observations
2500
Sample size (or number of clusters) by treatment arms
833 individuals per arm
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
2025-12-18
IRB Approval Number
H3A17e4T
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