L2: methodology of experiments

Question 1

What is an experiment?

Answer 1

A controlled data generating process

Question 2

How doe we establish causal variation?

Answer 2

Controlled variation (ie. changing one variable at a time)

Question 3

Drawback of lab data?

Answer 3

Cannot ensure external validity

Question 4

Difference between experiments and lab?

Answer 4

Labs create an artificial environment to generate data, experiments attempt to impose control on naturally occurring processes

Question 5

Benefit of field data?

Answer 5

They have automatic external validity

Question 6

Experimental economics…(see)

Answer 6

lecture notes

Question 7

Explain reasons for economic experiments?

Answer 7

Test theories, explore causes of a theories’ failure, compare environments, design policies etc.

Question 8

Define a treatment?

Answer 8

A particular condition of an experiment

Question 9

What is a session?

Answer 9

In a session a group of people take part in the experiment at a particular time and place

Question 10

6 steps to an experiment?

Answer 10

1) Research question
2) Experiment design
3) Hypotheses
4) Preparing experiment (ie. where, how, etc.)
5) Run experiment and collect data
6) Data analysis and write up