While randomized control trials are gold-standard, we don't use them in economics often to explore causal relationships. Why? Provide three reasons.
While randomized control trials are gold-standard, we don't use them in economics often to explore causal relationships. Why? Provide three reasons.
Chapter1: Making Economics Decisions
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While randomized control trials are gold-standard, we don't use them in economics often to explore causal relationships. Why? Provide three reasons.
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The randomized controlled trials (RCT) as the gold standard are the studies which measure the effectiveness of a new treatment or intervention. It provides a tool to examine the cause-effect relationship between treatment and outcome. It used for information development policy. The RCT considerably improve our ability to transformed development economics and fight poverty.
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