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Experimental methods in economics respond to circumstances that are not completely dictated by accepted theory or … outstanding problems. While the field of economics makes sharp distinctions and produces precise theory, the work of experimental … relevant theory. At a recent conference, a question was asked about where experimental methods might be more useful than field …
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'Until not much more than 20 years ago, economists frequently lamented the fact that they were limited in their empirical analyses to statistical assessments of market behavior, because controlled economic experiments were (thought to be) infeasible, unethical, or both. Much has changed in the...
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