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Experimentation, Innovation, and Economics

Michael Kremer

American Economic Review, 2020, vol. 110, issue 7, 1974-94

Abstract: The experimental method not only helps identify causal relationships, but also provides economists with a rich sense of context, focuses research on specific practical questions, stimulates collaboration with practitioners and specialists from other fields, and allows for rapid iteration. In this lecture, I present a series of examples illustrating how together these features make the experimental approach a powerful tool for advancing scientific understanding, informing policy, and promoting innovation. I then discuss how institutions can be designed to accelerate innovation and direct it toward the world's most pressing needs.

JEL-codes: B31 C90 I10 O15 O30 O43 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1257/aer.110.7.1974

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