This article reviews so-called screening in simulation; i.e., it examines the search for the really important factors in experiments with simulation models that have very many factors (or inputs).The article focuses on a most e¢ cient and e¤ective screening method, namely Sequential...

In practice, simulation analysts often change only one factor at a time, and use graphical analysis of the resulting Input/Output (I/O) data. Statistical theory proves that more information is obtained when applying Design Of Experiments (DOE) and linear regression analysis. Unfortunately,...

While historians of economics have noted the transition toward empirical work in economics since the 1970s, less understood is the shift toward "quasi-experimental" methods in applied microeconomics. Angrist and Pischke (2010) trumpet the wide application of these methods as a "credibility...

This study evaluates how different lengths of entry protection impact consumer and producer surplus. We formulate a dynamic oligopoly model in the tradition of Ericson and Pakes (1995) and allow entry costs to vary over time. Firms choose the optimal time to enter a market, and make output and...

This chapter briefly defines cultural heritage, before considering the relative merits of stated preference methods in relation to revealed preference in deriving economic values for cultural goods. Section 7.2 outlines the distinction between contingent valuation (CV) and discrete choice...

We investigate the potential for Large Language Models (LLMs) to enhance scientific practice within experimentation by identifying key areas, directions, and implications. First, we discuss how these models can improve experimental design, including improving the elicitation wording, coding...

The fundamental problem of external validity is not to generalize from one experiment, so much as to experimentally test generalizable theories. That is, theories that explain the systematic variation of causal effects across contexts. Here we show how the graphical language of causal diagrams...

Default options have been shown to affect behaviour in a variety of economic choice tasks, including health care and retirement savings. Less research has tested whether defaults affect behaviour in the domain of energy efficiency. This study uses data from a randomized controlled experiment in...

We investigate the effects of team competition on pro-social lending activity on Kiva.org, the first microlending website to match lenders with entrepreneurs in developing countries. Using naturally occurring field data, we find that lenders who join teams contribute 1.2 more loans ($30–$42)...

Many social experiments are run in multiple waves, or are replications of earlier social experiments. In principle, the sampling design can be modified in later stages or replications to allow for more efficient estimation of causal effects. We consider the design of a two-stage experiment for...