Experimetrics comprises the body of econometric techniques that are customized to experimental applications.
Experimetrics refers to the application of
econometrics
Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships.M. Hashem Pesaran (1987). "Econometrics," '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8� ...
to
economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analy ...
experiments. Experimetrics refers to formal procedures used in designed investigations of economic hypotheses.
One branch of experimetrics uses experiments to evaluate the performance of econometric estimators
[Cox,J.C., Oaxaca, R.L. (2009) "Chapter 114 Experimetrics: The Use of Market Experiments to Evaluate the Performance of Econometric Estimators", In: Charles R. Plott and Vernon L. Smith, Editor(s) (2008) ''Handbook of Experimental Economics Results'', Elsevier, 2008, Volume 1, Pages 1078-1086, ,]
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In short, experimetrics is the field of study that lies at the intersection of
experimental economics
Experimental economics is the application of experimental methods to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic expe ...
and econometrics. It refers to a broad swath of the economics literature, and encompasses both the theoretical and statistical basis of econometrics, as well as the methodology of the experimental method.
References
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Econometrics
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