Psychology of Economic Decision-Making

study guides for every class

that actually explain what's on your next test

Field Experiment

from class:

Psychology of Economic Decision-Making

Definition

A field experiment is a research method where an experiment is conducted in a real-world setting rather than in a controlled, laboratory environment. This approach allows researchers to observe the effects of variables in natural contexts, which enhances the ecological validity of the findings. By manipulating independent variables and observing their impact on dependent variables in everyday situations, field experiments provide insights that are often more applicable to real-life economic decisions.

congrats on reading the definition of Field Experiment. now let's actually learn it.

ok, let's learn stuff

5 Must Know Facts For Your Next Test

  1. Field experiments often have higher external validity because they take place in real-world settings, making findings more relevant to actual behavior.
  2. The design of field experiments can vary widely, from simple interventions in community settings to complex studies involving multiple treatment groups.
  3. Ethical considerations are crucial in field experiments, as researchers must ensure that participants are not harmed and that informed consent is obtained.
  4. Field experiments can involve various methods of data collection, including surveys, direct observation, and behavioral measures.
  5. Findings from field experiments can inform policy decisions by providing evidence of how people actually behave in economic situations, rather than how they might behave in hypothetical scenarios.

Review Questions

  • How does a field experiment differ from a laboratory experiment in terms of setting and ecological validity?
    • Field experiments take place in real-world environments, providing higher ecological validity than laboratory experiments, which occur in controlled settings. In field experiments, researchers can observe how individuals behave naturally without the artificial constraints of a lab. This difference is crucial because findings from field studies often translate better to real-life situations, whereas laboratory results may not always reflect genuine human behavior due to the artificial context.
  • Discuss the role of ethical considerations when designing a field experiment and how these considerations might impact the study's outcomes.
    • Ethical considerations in field experiments are vital to protect participants from harm and ensure their informed consent. Researchers must navigate these ethical issues carefully since they can influence the design and implementation of the study. For instance, if participants are unaware that they are part of an experiment or if thereโ€™s potential for negative consequences, it could lead to biased results or ethical violations that undermine the study's integrity.
  • Evaluate the importance of external validity in field experiments and how this concept influences economic decision-making research.
    • External validity refers to the extent to which findings from an experiment can be generalized to other settings or populations. In field experiments, this concept is crucial because it determines how applicable the results are to real-world economic decision-making. High external validity means that researchers can confidently suggest that behaviors observed in one context will occur in similar situations elsewhere. This aspect influences policymakers and economists by providing evidence-based recommendations grounded in actual behavior rather than theoretical assumptions.
ยฉ 2024 Fiveable Inc. All rights reserved.
APยฎ and SATยฎ are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
Glossary
Guides