The effect of unshrouding relevant information on demand for financial products: Evidence from India

Last registered on June 03, 2019

Pre-Trial

Trial Information

General Information

Title
The effect of unshrouding relevant information on demand for financial products: Evidence from India
RCT ID
AEARCTR-0004224
Initial registration date
May 24, 2019
Last updated
June 03, 2019, 6:28 AM EDT

Locations

Region

Primary Investigator

Affiliation

Other Primary Investigator(s)

PI Affiliation
University of Warwick
PI Affiliation
National Institute of Public Finance and Policy

Additional Trial Information

Status
On going
Start date
2019-03-18
End date
2019-06-17
Secondary IDs
Abstract
A preponderance of research in household finance suggests that
households are typically not fully informed about financial products
before making an investment decision. This shrouding does not
disappear with greater competition among product suppliers, and
supply-side regulation that mandate disclosures do not achieve
intended objectives. In this experiment in the field, we test whether
aiding households to ask the right question when a product is being
sold can enable better purchase decisions. This demand-side
intervention, if successful, can unshroud product features in a way that
corrects market failures, thus improving both household welfare and
prevent suppliers from creating suboptimal financial products.
External Link(s)

Registration Citation

Citation
Balasubramaniam, Vimal, Aditi Dimri and Renuka Sane. 2019. "The effect of unshrouding relevant information on demand for financial products: Evidence from India." AEA RCT Registry. June 03. https://doi.org/10.1257/rct.4224-2.0
Former Citation
Balasubramaniam, Vimal et al. 2019. "The effect of unshrouding relevant information on demand for financial products: Evidence from India." AEA RCT Registry. June 03. https://www.socialscienceregistry.org/trials/4224/history/47381
Experimental Details

Interventions

Intervention(s)
Refer to pre-analysis plan
Intervention Start Date
2019-04-29
Intervention End Date
2019-05-29

Primary Outcomes

Primary Outcomes (end points)
Refer to pre-analysis plan
Primary Outcomes (explanation)
Refer to pre-analysis plan

Secondary Outcomes

Secondary Outcomes (end points)
Refer to pre-analysis plan
Secondary Outcomes (explanation)
Refer to pre-analysis plan

Experimental Design

Experimental Design
Refer to pre-analysis plan
Experimental Design Details
Refer to pre-analysis plan
Randomization Method
Randomization was done in office by a computer using R.
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
3200 individuals
Sample size: planned number of observations
3200 individuals
Sample size (or number of clusters) by treatment arms
3200 individuals
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
MDE = 3.5 percentage points.
IRB

Institutional Review Boards (IRBs)

IRB Name
University of Warwick Research Governance and Ethics Committee - Humanities and Social Sciences Research Ethics Sub-Committee
IRB Approval Date
2019-02-20
IRB Approval Number
HSS 56/18-19
Analysis Plan

Analysis Plan Documents

PAP_03/06/19_BalasubramaniamDimriSane

MD5: ede68211678f27a31f4656ef9a335948

SHA1: ec314b43175ca9293f5c44d88341880497c4f0b0

Uploaded At: June 03, 2019

PAP_24/05/19_BalasubramaniamDimriSane

MD5: 95a8d4225c412c354a991f57bd7a15f8

SHA1: 4d43768fc6a18c54db2035f7478d53371590a3c1

Uploaded At: May 24, 2019

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