The logic of adaptive sequential experimentation in policy design:
AbstractIn this paper, we argue that economists can learn a great deal from the design principles implemented in medical research. We develop a theoretical model to show the logic of adaptive sequential experiment design in the presence of uncertainty over negative effects and discuss how to choose samples in a population to minimize the experiment cost. We also point out the applications of our proposed framework in the economic domain, such as economic reforms and new product design.
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Bibliographic InfoPaper provided by International Food Policy Research Institute (IFPRI) in its series IFPRI discussion papers with number 1273.
Date of creation: 2013
Date of revision:
Economic development; Economy; Experiments; randomized experiment; Social Sciences; methodologies;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-08-16 (All new papers)
- NEP-CBE-2013-08-16 (Cognitive & Behavioural Economics)
- NEP-DCM-2013-08-16 (Discrete Choice Models)
- NEP-EXP-2013-08-16 (Experimental Economics)
- NEP-SPO-2013-08-16 (Sports & Economics)
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- repec:pri:rpdevs:1224 is not listed on IDEAS
- Angus Deaton, 2010.
"Instruments, randomization, and learning about development,"
1224, Princeton University, Woodrow Wilson School of Public and International Affairs, Research Program in Development Studies..
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- Lin, Justin Yifu, 1992. "Rural Reforms and Agricultural Growth in China," American Economic Review, American Economic Association, vol. 82(1), pages 34-51, March.
- Jessica Cohen & Pascaline Dupas, 2010. "Free Distribution or Cost-Sharing? Evidence from a Randomized Malaria Prevention Experiment," The Quarterly Journal of Economics, MIT Press, vol. 125(1), pages 1-45, February.
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