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Information Disclosure and Lender Behaviors
Last registered on February 24, 2021

Pre-Trial

Trial Information
General Information
Title
Information Disclosure and Lender Behaviors
RCT ID
AEARCTR-0007234
Initial registration date
February 24, 2021
Last updated
February 24, 2021 10:29 AM EST
Location(s)

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Primary Investigator
Affiliation
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
Status
In development
Start date
2021-02-22
End date
2023-02-28
Secondary IDs
Abstract
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
Citation
Huang, Xing et al. 2021. "Information Disclosure and Lender Behaviors." AEA RCT Registry. February 24. https://doi.org/10.1257/rct.7234-1.0.
Experimental Details
Interventions
Intervention(s)
Intervention Start Date
2021-02-22
Intervention End Date
2023-02-28
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
Individual
Was the treatment clustered?
No
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)
IRB
INSTITUTIONAL REVIEW BOARDS (IRBs)
IRB Name
Central Institutional Review Board #1
IRB Approval Date
2020-11-02
IRB Approval Number
H20197