Improve Truthful Revelation using Blockchain Features

Last registered on May 14, 2026
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Pre-Trial

Trial Information

General Information

Title
Improve Truthful Revelation using Blockchain Features
RCT ID
AEARCTR-0017989
Initial registration date
February 24, 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
March 05, 2026, 6:08 AM EST

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

Last updated
May 14, 2026, 1:07 AM EDT

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

Locations

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Primary Investigator

Name
Zhengyang Bao
Affiliation
Monash University
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Other Primary Investigator(s)

PI Name
RUIZE SUN
PI Affiliation
MONASH
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PI Name
LATA GANGADHARAN
PI Affiliation
MONASH
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PI Name
EVGENY LYANDRES
PI Affiliation
Monash
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Additional Trial Information

Status
In development
Start date
2026-04-01
End date
2027-04-01
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 will conduct a lab experiment to evaluate interventions that leverage blockchain features to promote truth-telling. Specifically, we test how information transmission noise can promote truth-telling.

Note on changes: This version adjusts the planned sample size from 100 participants to 172 participants. This update is due to a recalculation of statistical power based on data from a pilot experiment.
External Link(s)

Registration Citation

Citation
Bao, Zhengyang et al. 2026. "Improve Truthful Revelation using Blockchain Features." AEA RCT Registry. May 14. https://doi.org/10.1257/rct.17989-1.3
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2026-04-01
Intervention End Date
2027-04-01

Primary Outcomes

Primary Outcomes (end points)
1. The lying probability of participants
2. Performance-dependent payoffs participants gain from the experiment, as a welfare metric
Primary Outcomes (explanation)
Two players share information about the state of the world. While welfare is maximized when both parties reveal information truthfully, they have incentives to misreport to maximize personal gains. Our intervention is expected to attenuate lying incentives and promote truth-telling. We expect that, if optimally designed, transmission noise improves welfare.

Secondary Outcomes

Secondary Outcomes (end points)
1. Risk aversion
2. Cognitive ability
3. Social preferences
4. Lying aversion
Secondary Outcomes (explanation)
After the main task that delivers the primary outcomes, the experiment includes four auxiliary tasks designed to elicit participants' risk aversion, cognitive ability, social preferences, and lying aversion, following standard methods in the literature. These auxiliary variables would help us to obtain a deeper understanding of the primary outcomes by connecting them to various strands of the literature.

Experimental Design

Experimental Design
The experiment follows a 1-by-2 between-subjects design, with a control group and a treatment group, where participants in the treatment group receive the intervention (i.e., noise in information transmission) but those in the control group do not.
Experimental Design Details
Not available
Randomization Method
Randomization is done by a computer.
Randomization Unit
Randomization is at the individual level.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
172 participants.
Sample size: planned number of observations
172 participants.
Sample size (or number of clusters) by treatment arms
There are 86 participants in each of the two groups from the 1-by-2 design, so the total number of participants is 172.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
We target at least an 80% chance to detect the treatment effect at the 0.01 statistical significance level. Based on a preliminary pilot of the experiment, this would require at least 86 participants in each group.
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
Monash University Human Research Ethics Committee
IRB Approval Date
2025-10-07
IRB Approval Number
49305
Analysis Plan