Investment Decisions and Social Comparison

Last registered on December 10, 2021
View Trial History

Pre-Trial

Trial Information

General Information

Title
Investment Decisions and Social Comparison
RCT ID
AEARCTR-0008675
Initial registration date
December 07, 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
December 10, 2021, 10:59 AM EST

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

Locations

Country
United States of America
Region
Online

Primary Investigator

Name
Samir Huseynov
Affiliation
Auburn University
Contact Primary Investigator

Other Primary Investigator(s)

Additional Trial Information

Status
In development
Start date
2021-12-07
End date
2021-12-31
Keywords
Behavior, Finance & Microfinance
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This study intends to investigate the role of social comparison in investment decisions. We will follow Apesteguia et al (2020) in designing the study with one major change: adding treatments on social comparison. Our control condition is similar to the control condition of Apesteguia et al (2020). However, in treatment conditions, we inform subjects about their ranking relative to the selected baseline group. In the downward (upward) social comparison treatment, we will compare the results of subjects to a lower (higher) distribution. We expect that the number of risky assets choices will be higher in the upward comparison treatment compared to the downward comparison condition.

External Link(s)

Registration Citation

Citation
Huseynov, Samir. 2021. "Investment Decisions and Social Comparison." AEA RCT Registry. December 10. https://doi.org/10.1257/rct.8675-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2021-12-07
Intervention End Date
2021-12-31

Primary Outcomes

Primary Outcomes (end points)
the role of social comparison in investment decisions.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We will follow Apesteguia et al (2020) in designing the study with one major change: adding treatments on social comparison. Our control condition is similar to the control condition of Apesteguia et al (2020). However, in treatment conditions, we inform subjects about their ranking relative to the selected baseline group. In the downward (upward) social comparison treatment, we will compare the results of subjects to a lower (higher) distribution. We expect that the number of risky assets choices will be higher in the upward comparison treatment compared to the downward comparison condition.
Experimental Design Details
Randomization Method
random assignment to treatments on Prolific.co
Randomization Unit
300
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
300
Sample size: planned number of observations
300
Sample size (or number of clusters) by treatment arms
300
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
Auburn University IRB
IRB Approval Date
2021-12-06
IRB Approval Number
21-563 EX 2111
Analysis Plan

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