The Logic of Adaptive Sequential Experimentation in Policy Design is popular PDF and ePub book, written by Haipeng Xing in 2013-06-26, it is a fantastic choice for those who relish reading online the Social Science genre. Let's immerse ourselves in this engaging Social Science book by exploring the summary and details provided below. Remember, The Logic of Adaptive Sequential Experimentation in Policy Design can be Read Online from any device for your convenience.
The Logic of Adaptive Sequential Experimentation in Policy Design Book PDF Summary
Inspired by the wide adoption of rigorous randomized controlled trials (RCTs) in medical research, economists and other social scientists have increasingly used RCTs in their research. As researchers pick up projects amenable to the RCT methodology, they likely leave out important questions to which RCTs cannot be directly applied. As a result, RCTs have been criticized for the proclivity of addressing trivial questions. As a matter of fact, in medical research RCTs are an integral part of adaptive sequential experiment designa few steps must be taken to screen out drugs that have toxins and strong side effects before running any RCTs on humans. In 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.
Detail Book of The Logic of Adaptive Sequential Experimentation in Policy Design PDF
- Author : Haipeng Xing
- Release : 26 June 2013
- Publisher : Intl Food Policy Res Inst
- ISBN : 978186723xxxx
- Genre : Social Science
- Total Page : 28 pages
- Language : English
- PDF File Size : 10,8 Mb
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