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No Bubbles in the City. An Experiment with Professional Traders

Last registered on April 16, 2019
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Pre-Trial

Trial Information

General Information

Title
What factors affect trading performance?
RCT ID
AEARCTR-0003853
Initial registration date
February 03, 2019

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
February 24, 2019, 7:50 PM EST

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

Last updated
April 16, 2019, 4:27 AM EDT

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

Locations

Country
United Kingdom of Great Britain and Northern Ireland
Region
London

Primary Investigator

Name
Ryan Kendall
Affiliation
University College London
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Marco Cipriani
PI Affiliation
PI Name
Antonio Guarino
PI Affiliation

Additional Trial Information

Status
In development
Start date
2019-02-04
End date
2019-09-30
Keywords
Finance & Microfinance
Additional Keywords
JEL code(s)
Secondary IDs
Abstract
This study explores the factors that contribute to earnings in financial markets. Different populations are studied and compared. Undergraduate subjects are used as the control for a portion of the analysis.
External Link(s)

Registration Citation

Citation
Cipriani, Marco, Antonio Guarino and Ryan Kendall. 2019. "What factors affect trading performance?." AEA RCT Registry. April 16. https://doi.org/10.1257/rct.3853-2.0
Former Citation
Cipriani, Marco, Antonio Guarino and Ryan Kendall. 2019. "What factors affect trading performance?." AEA RCT Registry. April 16. https://www.socialscienceregistry.org/trials/3853/history/44960
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2019-02-04
Intervention End Date
2019-05-10

Primary Outcomes

Primary Outcomes (end points)
We have two primary outcomes we are interested in. First, do the different populations mis-price the asset at different levels? In this case, undergraduate subjects are used as the control against a different population. Second, based on a battery of tests conducted after the market experiment, which cognitive or non-cognitive trait best predicts performance in the experimental market.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We are studying behavior in a market experiment across different groups. Undergraduate subjects are used as the control for a portion of the analysis.
Experimental Design Details
Randomization Method
Randomization is always carried out by computer programs.
Randomization Unit
We will be looking at, both, individual level choices (e.g., scores on tests and personal earnings) and group level choices (e.g., average price per period and comparison across population groups).
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
We plan to have approximately 50 subjects in each of the two groups (for 100 total subjects).
Sample size: planned number of observations
Each subject makes make choices in the experiment.
Sample size (or number of clusters) by treatment arms
Our treatment variable is the two different population groups.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
UCL Research Ethics Committee
IRB Approval Date
2017-11-28
IRB Approval Number
12439/001
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