What Is the Difference Between a Field Experiment and a Lab

question 108

Essay

What is the difference between a field experiment and a lab experiment? How do they differ in terms of internal validity and external validity?

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Definitions:

Static Planning Budget

is a budget based on a fixed level of activity and does not change with actual activity levels, useful for planning but less so for performance evaluation.

Unfavorable Activity Variance

This term describes a situation where actual costs exceed the standards or budgeted amounts, leading to a negative variance.

Static Planning Budget

A budget based on a fixed level of activity, without adjusting for any variations in actual performance, useful for initial planning.

Flexible Budget

A budget that adjusts or varies with changes in the volume of activity, revenue, or other factors influencing budgeting.