The Reason Why Economists Do Not Use Experimental Data More

question 7

Multiple Choice

The reason why economists do not use experimental data more frequently is for all of the following reasons except that real-world experiments

• A)cannot be executed in economics.
• B)with humans are difficult to administer.
• C)are often unethical.
• D)have flaws relative to ideal randomized controlled experiments.

---

Definitions:

Probability

A measure of the likelihood of a specific event or outcome occurring.

Wins

Achievements or successes in a competition or challenge.

Income-Utility Curves

Graphical representations showing how changes in income affect an individual's level of satisfaction or utility, holding other factors constant.

Risk Preferences

Denote an individual's or entity's tolerance for risk, influencing decision-making in uncertain situations.