A Major Difference Between a Field Experiment and a Laboratory

question 41

Multiple Choice

A major difference between a field experiment and a laboratory experiment is that

• A) Mundane realism is higher in a field experiment.
• B) The levels of the independent variable cannot be controlled by the experimenter.
• C) The results on the dependent variable are less predictable due to the variable behaviours of participants in a real-life setting.
• D) Participants are unaware of their involvement in a psychology experiment.
• E) Psychological realism is lower in a field experiment.

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Definitions:

Smart Phone App

A smartphone app is a software application designed to run on smartphones, offering various functionalities ranging from utility and entertainment to productivity and social networking.

Adverse Selection

A situation where asymmetric information leads to the selection of poor risks or unwanted results, commonly discussed in insurance markets and financial services.

Moral Hazard

The situation where one party is more likely to take risks because the negative consequences of those risks will be felt by another party.

Asymmetric Information

Occurs when one party in a transaction has more or superior information compared to another, affecting decision-making.