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Social interactions and asset pricing bubbles
Last registered on August 12, 2019

Pre-Trial

Trial Information
General Information
Title
Social interactions and asset pricing bubbles
RCT ID
AEARCTR-0004315
Initial registration date
June 13, 2019
Last updated
August 12, 2019 5:53 AM EDT
Location(s)
Region
Primary Investigator
Affiliation
Paderborn University
Other Primary Investigator(s)
PI Affiliation
Additional Trial Information
Status
Completed
Start date
2019-07-03
End date
2019-08-01
Secondary IDs
Abstract
With the help of this randomized controlled experiment, we intend to investigate the influence of social interactions on asset markets.
External Link(s)
Registration Citation
Citation
Pelster, Matthias and Sören Steiger. 2019. "Social interactions and asset pricing bubbles." AEA RCT Registry. August 12. https://doi.org/10.1257/rct.4315-3.0
Former Citation
Pelster, Matthias and Sören Steiger. 2019. "Social interactions and asset pricing bubbles." AEA RCT Registry. August 12. https://www.socialscienceregistry.org/trials/4315/history/51571
Experimental Details
Interventions
Intervention(s)
The experimental design follows the bubble game experiment by Caginalp et al. (2001), which was also used by Andrade et al. (2016).
Intervention Start Date
2019-07-03
Intervention End Date
2019-08-01
Primary Outcomes
Primary Outcomes (end points)
highest price per market above fundamental value
Primary Outcomes (explanation)
Secondary Outcomes
Secondary Outcomes (end points)
Secondary Outcomes (explanation)
Experimental Design
Experimental Design
The experimental design follows the bubble game experiment by Caginalp et al. (2001), which was also used by Andrade et al. (2016).
Experimental Design Details
With the help of this randomized controlled experiment, we intend to investigate the influence of social interactions on asset markets. The study will provide an empirical test of the hypothesis that social interactions increase asset pricing bubbles. The experimental design follows the bubble game experiment by Caginalp et al. (2001) and Andrade et al. (2016). In our treatment condition, we allow participants to interact with each other. In the control condition however, participants may not engage in any social interation.
Randomization Method
Randomization done in office by a computer
Randomization Unit
experimental market
Was the treatment clustered?
Yes
Experiment Characteristics
Sample size: planned number of clusters
20 markets
Sample size: planned number of observations
180 students
Sample size (or number of clusters) by treatment arms
10 control markets, 10 treatment markets
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials

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IRB
INSTITUTIONAL REVIEW BOARDS (IRBs)
IRB Name
German Association for Experimental Economic Research e.V.
IRB Approval Date
2019-06-13
IRB Approval Number
EeLVdPRe
Analysis Plan

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Post-Trial
Post Trial Information
Study Withdrawal
Intervention
Is the intervention completed?
Yes
Intervention Completion Date
August 01, 2019, 12:00 AM +00:00
Is data collection complete?
Yes
Data Collection Completion Date
August 01, 2019, 12:00 AM +00:00
Final Sample Size: Number of Clusters (Unit of Randomization)
21 markets
Was attrition correlated with treatment status?
No
Final Sample Size: Total Number of Observations
21 markets with 9 students per market
Final Sample Size (or Number of Clusters) by Treatment Arms
11 social interactions markets, 10 control markets
Data Publication
Data Publication
Is public data available?
No
Program Files
Program Files
Reports and Papers
Preliminary Reports
Relevant Papers