"Economics and the Experimental Method"

"Economics and the Experimental Method" refers to using controlled experiments to study economic behavior and theories, much like scientists do in natural sciences. Instead of just relying on historical data or theoretical models, economists create settings where they can observe how individuals or groups make decisions under different conditions. This approach helps test hypotheses about human behavior, market dynamics, and policy impacts, providing empirical evidence that can improve our understanding of economic principles and inform better decision-making in real-world situations.