Advisors' resources and impact of advice

Last registered on January 31, 2022
View Trial History

Pre-Trial

Trial Information

General Information

Title
Advisors' resources and impact of advice
RCT ID
AEARCTR-0007269
Initial registration date
March 10, 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
March 10, 2021, 9:37 AM EST

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

Last updated
January 31, 2022, 4:50 AM EST

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

Locations

Country
Germany
Region

Primary Investigator

Name
Andrea Martinangeli
Affiliation
Burgundy School of Business
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Bijana Meiske
PI Affiliation
Max Planck Institute for Tax Law and Public Finance
Contact Investigator

Additional Trial Information

Status
Completed
Start date
2021-03-10
End date
2021-04-30
Keywords
Behavior
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We investigate how status as a signal for the individuals' underlying ability, and pure apparent status with no connection with ability determine individuals' influence on others' behaviours.
External Link(s)

Registration Citation

Citation
Martinangeli, Andrea and Bijana Meiske. 2022. "Advisors' resources and impact of advice." AEA RCT Registry. January 31. https://doi.org/10.1257/rct.7269-1.1
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2021-03-10
Intervention End Date
2021-04-30

Primary Outcomes

Primary Outcomes (end points)
Distance between individuals' action and advice received
Primary Outcomes (explanation)
Individuals receive lottery investment advice. We then measure the absolute distance between their choice and the advice received.

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We randomise whether the advice originates from a high- or low-status advisor, whose status was either randomly assigned or earned via a cognitive ability test.
Experimental Design Details
Randomization Method
The participants are randomly assigned to an experimental condition by the software
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
No custers
Sample size: planned number of observations
Target 1000 individuals
Sample size (or number of clusters) by treatment arms
250 individuals per experimental condition
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
MDE=0.25 standard deviations at alpha=0.05 and power=0.8
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
Ethics Council of the Max Planck Society
IRB Approval Date
2021-02-23
IRB Approval Number
2020-15/2
Analysis Plan

Analysis Plan Documents

Pre-analysis report_advice

MD5: 3727b978b88fb70ec9b35e8afbf24f5a

SHA1: f9a2826044881dfb0976b62538e32758e75d09fc

Uploaded At: March 10, 2021

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