So you want to run an experiment, now what? Some simple rules of thumb for optimal experimental design

Experimental economics represents a strong growth industry. In the past several decades the method has expanded beyond intellectual curiosity, now meriting consideration alongside the other more traditional empirical approaches used in economics. Accompanying this growth is an influx of new experime...

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Bibliographic Details
Published in:Experimental economics : a journal of the Economic Science Association 2011-11, Vol.14 (4), p.439-457
Main Authors: List, John A., Sadoff, Sally, Wagner, Mathis
Format: Article
Language:English
Subjects:
Behavioral/Experimental Economics
C90
Design of experiments
Economic growth
Economic theory
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Experimental design
Experiments
Game Theory
Hypotheses
Microeconomics
Operations Research/Decision Theory
Sample size
Social and Behav. Sciences
Studies
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Summary:Experimental economics represents a strong growth industry. In the past several decades the method has expanded beyond intellectual curiosity, now meriting consideration alongside the other more traditional empirical approaches used in economics. Accompanying this growth is an influx of new experimenters who are in need of straightforward direction to make their designs more powerful. This study provides several simple rules of thumb that researchers can apply to improve the efficiency of their experimental designs. We buttress these points by including empirical examples from the literature.
ISSN:1386-4157
1573-6938
DOI:10.1007/s10683-011-9275-7