Randomised Field Experiments

In recent years, many economists have been attracted by the possibility of obtaining better knowledge using randomised experiments, which are termed the `gold standard’ for empirical analysis. I have long been skeptical about this approach, for three reasons:

Reality is a complicated nonlinear relationship in many dimensions. Each randomised experiment illuminates the gradient vector . . . → Read More: Randomised Field Experiments

Economic Events on August 10, 2010

At 7:45 AM EDT, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.

At 8:30 AM EDT, the Productivity and Costs report for the second quarter of 2010 will be released.  The consensus is that non-farm productivity was unchanged . . . → Read More: Economic Events on August 10, 2010