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Diversity of Experimental Methods in Economics (Hardcover, 1st ed. 2019)
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Diversity of Experimental Methods in Economics (Hardcover, 1st ed. 2019)
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This is the first book that examines the diverse range of
experimental methods currently being used in the social sciences,
gathering contributions by working economists engaged in
experimentation, as well as by a political scientist, psychologists
and philosophers of the social sciences. Until the mid-twentieth
century, most economists believed that experiments in the economic
sciences were impossible. But that's hardly the case today, as
evinced by the fact that Vernon Smith, an experimental economist,
and Daniel Kahneman, a behavioral economist, won the Nobel Prize in
Economics in 2002. However, the current use of experimental methods
in economics is more diverse than is usually assumed. As the
concept of experimentation underwent considerable abstraction
throughout the twentieth century, the areas of the social sciences
in which experiments are applied are expanding, creating renewed
interest in, and multifaceted debates on, the way experimental
methods are used. This book sheds new light on the diversity of
experimental methodologies used in the social sciences. The topics
covered include historical insights into the evolution of
experimental methods; the necessary "performativity" of
experiments, i.e., the dynamic interaction with the social contexts
in which they are embedded; the application of causal inferences in
the social sciences; a comparison of laboratory, field, and natural
experiments; and the recent use of randomized controlled trials
(RCTs) in development economics. Several chapters also deal with
the latest heated debates, such as those concerning the use of the
random lottery method in laboratory experiments.
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