One of the major lessons learned in the chapter on experiments and quasi-experiments
A)is that there are almost no true experiments in economics and that quasi-experiments are a poor substitute.
B)you should always use TSLS when estimating causal effects in quasi-experiments.
C)populations are always homogeneous.
D)is that the insights of experimental methods can be applied to quasi-experiments, in which special circumstances make it seem "as if" randomization has occurred.

Question

Quizplus · Accepted Answer

The chapter on experiments and quasi-experiments highlights the importance of applying the insights from experimental methods to quasi-experiments where true randomization is not possible. Quasi-experiments can provide valuable insights if special circumstances allow for valid causal inference, such as natural experiments or regression discontinuity designs. Therefore, the major lesson learned is that the insights from experimental methods can be applied to quasi-experiments. Choice A is incorrect because there are true experiments in economics, although they are rare. Choice B is incorrect because TSLS is not always the best method for estimating causal effects in quasi-experiments. Choice C is incorrect because populations are often heterogeneous, which can complicate experimental and quasi-experimental designs.

One of the Major Lessons Learned in the Chapter on Experiments