10 Questions
Why is experimentation considered a fundamental step in the scientific method?
It is used by scientists to test the validity of theories
Why is experimental economics considered a relatively new field?
Because the experimental design must meet certain requirements which are difficult to achieve in economics
Which of the following individuals was awarded a Nobel Prize for work related to experimental economics?
Daniel Kahneman
Richard H.Thaler's research incorporates insights from which fields to analyze economic decision-making?
Psychology
In the context of experimental economics, what is the primary purpose of an experiment?
To establish facts or test hypotheses through controlled observation
What is a potential drawback of quasi-experiments in research?
Because they lack random assignment by the researcher to treatment and control groups
Why do laboratory experiments have an advantage in experimental economics?
They provide high control
What characterizes the replication crisis in experimental economics and psychology?
A scenario where original research results are not replicable or reproducible by other researchers
Why might agreement be harder to achieve in economics compared to fields like physics or mathematics?
The economic behavior of individuals and markets is less predictable
In experimental economics, why might quasi-experiments pose a higher risk of reaching incorrect conclusions?
Because they lack random assignment by the researcher to treatment and control groups
Test your knowledge on the importance of experimentation in the scientific method and the characteristics of experimental economics as a relatively new field.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
