Information Disclosure and Lender Behaviors

Last registered on February 24, 2021


Trial Information

General Information

Information Disclosure and Lender Behaviors
Initial registration date
February 24, 2021

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, 2021, 10:29 AM EST

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


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Primary Investigator

Georgia Institute of Technology

Other Primary Investigator(s)

PI Affiliation
Georgia Institute of Technology
PI Affiliation
Washington University in St. Louis
PI Affiliation
University of Science and Technology of China

Additional Trial Information

In development
Start date
End date
Secondary IDs
The goal of our study is to understand the effect of showing information about peer behavior on decision making. The context that we will try to emulate in our study is that of online peer-to-peer lending (P2P lending), one type of crowdfunding market, where one funding request is typically fulfilled by many investors. Some platforms show detailed information about previous decisions, such as who invested how much at what time. Other platforms show much less information, e.g., only how much cumulatively has been funded. We want to understand how different levels of information affect the decision-making behavior of potential investors, using subjects to be recruited on Amazon Mechanical Turk (MTurk).
External Link(s)

Registration Citation

Huang, Xing et al. 2021. "Information Disclosure and Lender Behaviors." AEA RCT Registry. February 24.
Experimental Details


Intervention Start Date
Intervention End Date

Primary Outcomes

Primary Outcomes (end points)
(1) Investment performance of subjects
(2) Time that subjects spend in making investment decisions
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Each subject will be randomly shown several mock-up requests for loans emulating those shown on actual P2P lending platforms. The treatment of interest is the disclosure of the bidding information of other lenders. The subjects need to make hypothetical decisions on whether they would invest in each of these loan requests shown in the pictures --- "pretending" that they are actual investors.
Experimental Design Details
Not available
Randomization Method
Randomization using Qualtrics
Randomization Unit
Was the treatment clustered?

Experiment Characteristics

Sample size: planned number of clusters
Not applicable
Sample size: planned number of observations
Around 600 individuals
Sample size (or number of clusters) by treatment arms
Around 300 individuals for the treatment group and 300 individuals for the control group
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)

Institutional Review Boards (IRBs)

IRB Name
Central Institutional Review Board #1
IRB Approval Date
IRB Approval Number