So You Want to Run an Experiment, Now What? Some Simple Rules of Thumb for Optimal Experimental Design
23 Pages Posted: 1 Feb 2010 Last revised: 28 May 2021
Date Written: January 2010
Experimental economics represents a strong growth industry. In the past several decades the method has expanded beyond intellectual curiosity, now meriting consideration alongside the other more traditional empirical approaches used in economics. Accompanying this growth is an influx of new experimenters who are in need of straightforward direction to make their designs more powerful. This study provides several simple rules of thumb that researchers can apply to improve the efficiency of their experimental designs. We buttress these points by including empirical examples from the literature.
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