Improving the statistical power of economic experiments using adaptive designs

Sebastian Jobjörnsson, Henning Schaak (), Oliver Musshoff and Tim Friede
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Sebastian Jobjörnsson: University Medical Center Göttingen
Henning Schaak: University of Natural Resources and Life Sciences
Tim Friede: University Medical Center Göttingen

Experimental Economics, 2023, vol. 26, issue 2, No 6, 357-382

Abstract: Abstract An important issue for many economic experiments is how the experimenter can ensure sufficient power in order to reject one or more hypotheses. The paper illustrates how methods for testing multiple hypotheses simultaneously in adaptive, two-stage designs can be used to improve the power of economic experiments. We provide a concise overview of the relevant theory and illustrate the method in three different applications. These include a simulation study of a hypothetical experimental design, as well as illustrations using two data sets from previous experiments. The simulation results highlight the potential for sample size reductions, maintaining the power to reject at least one hypothesis while ensuring strong control of the overall Type I error probability.

Keywords: Adaptive design; Multiple testing; Simulation study; Family-wise error rate; Experimental design (search for similar items in EconPapers)
JEL-codes: C12 C90 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10683-022-09773-8

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