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Experiments and Econometrics

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The New Palgrave Dictionary of Economics
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Abstract

‘Experimetrics’ refers to formal procedures used in designed investigations of economic hypotheses. Fundamental experimetric contributions by Ronald A. Fisher provided the foundation for a rich literature informing the design and analysis of economics experiments. Key components of this foundation include the concepts of randomization, independence and blocking. Experimetric analysis plays a central role in advancing economic models, and will gain further importance as scholars adopt increasingly sophisticated designed research programmes to illuminate positive economic theory.

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Houser, D.E. (2018). Experiments and Econometrics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2347

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