The Role of Theory in Field Experiments

摘要

When it comes to the role of theory in their research, empirical micro-economists are torn. On the one hand, we devote a large fraction of our graduate instruction to models of consumer behavior and firm decision making, and to the interactions that determine market equilibrium. On the other hand, it is not always obvious how these theories are relevant to empirical research. Outside the academy, policymakers and business leaders often demand "basic facts" and simplified policy guidance with little or no concern for theoretical nuances.