Lab experiments allow economists to test economic theory, Econometrics

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Lab experiments allow economists to test economic theory

1. How do economists attempt to account for altruism in economic models?

2. What tends to happen to irrational or biased actors in the market system?

3. Lab experiments allow economists to test economic theory while holding all other variables constant. What are some downfalls of lab experiments?

4. Contrast natural and field experiments. What are some advantages of each?

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Econometrics: Lab experiments allow economists to test economic theory

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Econometrics: Lab experiments allow economists to test economic theory

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