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1 – 10 of over 32000
Article
Publication date: 13 April 2015

Charles G. Leathers, J. Patrick Raines and Heather R. Richardson-Bono

The role of debt in episodes of financial stability is a topic of increasing important as the global economy struggles to recover from the worst crisis since the Great…

Abstract

Purpose

The role of debt in episodes of financial stability is a topic of increasing important as the global economy struggles to recover from the worst crisis since the Great Depression of the 1930s. The purpose of this paper is to examine the mortgage finance booms of the 1920s and 2000s as natural experiments, new insights into debt-driven financial crises are gained.

Design/methodology/approach

The general methodology is interpreting anomalous historical events as natural experiments. The specific methodology is the approach to natural experiments provided by Joseph A. Schumpeter and Milton Friedman. The hypothesis tested is that laxity in lending standards was the prime contributor to the mortgage debt booms. In each case, we explain why factors other than laxity in lending standards would be secondary factors, with the pre-boom and post-boom lending standards providing the control groups of natural experiments. The two episodes of mortgage debt booms occurring under very different general economic and financial conditions provide an especially strong test of the hypothesized functional relationship.

Findings

The results of the two natural experiments support the hypothesis that lax lending standards were the prime contributors to the two episodes of debt-driven financial crisis.

Originality/value

From a social economics perspective, the insights gained are important because a major social goal has been to encourage greater opportunities for home ownership. The results of these natural experiments provide guidance for policymakers in the search for a viable balance between achieving that social goal and maintaining financial stability.

Details

International Journal of Social Economics, vol. 42 no. 4
Type: Research Article
ISSN: 0306-8293

Keywords

Book part
Publication date: 23 May 2005

Glenn W. Harrison

If we are to examine the role of “controls” in different experimental settings, it is appropriate that the word be defined carefully. The Oxford English Dictionary (Second

Abstract

If we are to examine the role of “controls” in different experimental settings, it is appropriate that the word be defined carefully. The Oxford English Dictionary (Second Edition) defines the verb “control” in the following manner: “To exercise restraint or direction upon the free action of; to hold sway over, exercise power or authority over; to dominate, command.” So the word means something more active and interventionist than is suggested by it’s colloquial clinical usage. Control can include such mundane things as ensuring sterile equipment in a chemistry lab, to restrain the free flow of germs and unwanted particles that might contaminate some test.

Details

Field Experiments in Economics
Type: Book
ISBN: 978-0-76231-174-3

Article
Publication date: 6 March 2017

Alexander Schjøll and Frode Alfnes

The purpose of this paper is to illustrate and discuss methodology issues in menu-labelling experiments in commercial full-service restaurants, and to investigate how the…

1415

Abstract

Purpose

The purpose of this paper is to illustrate and discuss methodology issues in menu-labelling experiments in commercial full-service restaurants, and to investigate how the menu description and price affects customers’ choice of an organic veal entrée in a Norwegian restaurant.

Design/methodology/approach

A menu-labelling experiment was conducted in a fine-dining restaurant during ordinary opening hours over a period of two weeks. The menu description of an organic veal entrée was altered repeatedly and the effect of these changes on the sales of this entrée was investigated.

Findings

Adding words to the menu description, such as “organic”, or describing animal welfare had a very limited effect on customers’ choices in the restaurant.

Research limitations/implications

The research illustrates the use of a natural field experiment in a commercial full-service restaurant and discusses strengths and weaknesses of the methodology.

Originality/value

Few experiments have been performed on the effect on credence attributes in commercial full-service restaurants and there is little knowledge about research challenges in menu-labelling experiments. This paper contributes to the knowledge on both issues by conducting a natural field experiment in a fine-dining restaurant.

Details

British Food Journal, vol. 119 no. 3
Type: Research Article
ISSN: 0007-070X

Keywords

Book part
Publication date: 26 November 2014

David B. Zoogah and Richard B. Zoogah

We discuss how experimental analysis can be integrated into strategic human resources management (SHRM) research in Africa so as to develop theory and value principles to…

Abstract

Purpose

We discuss how experimental analysis can be integrated into strategic human resources management (SHRM) research in Africa so as to develop theory and value principles to guide executives.

Design/methodology/approach

The model we propose – experiment-based SHRM – is predicated on the use of experimental approaches to demonstrate the value of SHRM and to derive principles that guide research and practice in Africa.

Findings

We illustrate how scholars can conduct experiments from an SHRM perspective.

Research limitations/implications

We discuss the strengths and limitations of the model and suggest ways of maximizing its potential.

Practical implications

The technique is a resource for scholars of SHRM in Africa. They can use it to supplement other approaches for studying SHRM.

Originality/value

This chapter discusses a typology of experimental analysis. The lack of such a typology in the context of Africa makes it a valuable contribution. Thus, it fills a contextual gap in the SHRM research methodology literature. It can therefore help graduate students and junior faculty improve their research.

Details

Advancing Research Methodology in the African Context: Techniques, Methods, and Designs
Type: Book
ISBN: 978-1-78441-489-4

Keywords

Article
Publication date: 9 March 2012

Charles G. Leathers and J. Patrick Raines

During the Greenspan‐Bernanke era, the responses of Federal Reserve officials to financial crises resulted in an extraordinary involvement of the US central bank in the…

561

Abstract

Purpose

During the Greenspan‐Bernanke era, the responses of Federal Reserve officials to financial crises resulted in an extraordinary involvement of the US central bank in the non‐banking financial sector. The purpose of this paper is to examine the informal and evolving conceptual framework that allows Federal Reserve officials to pursue a strategy of “constrained discretion” in responding to financial disturbances.

Design/methodology/approach

Behavioural economics relies on designed psychological and economic experiments to predict behavioural biases at the group level. As an analogue applicable to understanding biases in the intuitive judgments of individual policymakers, a naïve behavioural economics approach relies on intuitive or naive psychology and the interpretation of historical events as natural experiments to explain why intuitive judgments of Federal Reserve officials will contain biases.

Findings

Under the Greenspan‐Bernanke conceptual framework, Federal Reserve officials exercise “constrained discretion” in responding to disturbances arising from macro structural changes in the financial sector. The two key concepts are the Greenspan‐Bernanke doctrine on how the Federal Reserve officials respond to financial asset price bubbles and their collapses, and Bernanke's financial accelerator. Several examples are cited in which policy errors made by Alan Greenspan were attributable to identifiable biases in his intuitive judgment. In addition, Bernanke's response to the financial crisis of 2007‐2009 was based on his interpretation of the Great Depression as a natural experiment. But that interpretation was heavily biased by the influence of Milton Friedman on Bernanke's intuitive judgment. While Federal Reserve officials will need to exercise discretionary judgment in responding to financial crises, the potential for errors due to biases in that judgment can be reduced through regulatory reforms that lessen the potential for financial crises to occur.

Originality/value

While quantitative analyses of the effects of the Federal Reserve's actions on non‐bank financial institutions and the financial markets are ongoing, little attention has been given to the psychological aspects of the intuitive judgment that influences the discretionary decisions of the policymakers.

Book part
Publication date: 15 June 2012

Olivier Armantier and Amadou Boly

This chapter examines the external validity of lab experiments on corruption by evaluating the extent to which experimental results are robust to the degree of field…

Abstract

This chapter examines the external validity of lab experiments on corruption by evaluating the extent to which experimental results are robust to the degree of field context included in the experimental design. To do so, we follow Harrison and List (2004) and partition corruption experiments into four classes depending on their field context. A comparison of the results obtained within each class reveals that similar treatment effects tend to emerge. Although a definitive answer to the external validity question has yet to be provided, these preliminary results provide some support to the external validity of lab experiments on corruption.

Details

New Advances in Experimental Research on Corruption
Type: Book
ISBN: 978-1-78052-785-7

Article
Publication date: 29 March 2019

Clinton Amos, James C. Hansen and Skyler King

This paper aims to investigate inferences consumers make about organic and all-natural labeled products in both food and non-food contexts using the health halo effect as…

Abstract

Purpose

This paper aims to investigate inferences consumers make about organic and all-natural labeled products in both food and non-food contexts using the health halo effect as a theoretical foundation.

Design/methodology/approach

This paper uses three experiments to test the effects of organic and all-natural labeling across three product types, food, personal hygiene and household cleaning, while controlling for environmental attitudes.

Findings

The results of the experiments in the context of food, personal hygiene and household cleaning products suggest that both organic and all-natural labeling produce halo effects. Distinct findings are presented across the three product types.

Research limitations/implications

Findings indicate that consumers may make unwarranted inferences about both organic and all-natural labeled products and demonstrates that the health halo effect is a potentially robust phenomenon, pervasive across a diverse array of products. This research used a crowdsourcing platform for sample recruitment. Future research should validate the results of these experiments with other sample types.

Practical implications

This research suggests that consumers may make similar unwarranted inferences for diverse products bearing organic and all-natural labels. These inferences are particularly intriguing given the differing regulatory requirements for the labels

Originality/value

Organic and all-natural labels are ubiquitous in both food and non-food products. However, research on either label primarily exists in a food context and has not directly compared the labels. Understanding the inferences consumers make based on the labels across product types is imperative for both marketing and public policy.

Details

Journal of Consumer Marketing, vol. 36 no. 4
Type: Research Article
ISSN: 0736-3761

Keywords

Article
Publication date: 5 September 2016

Sascha Kraus, Fabian Meier and Thomas Niemand

The purpose of this paper is to evaluate the emerging field of experimental research on entrepreneurship to better understand its development and potential.

2384

Abstract

Purpose

The purpose of this paper is to evaluate the emerging field of experimental research on entrepreneurship to better understand its development and potential.

Design/methodology/approach

A systematic, evidence-based literature review was applied, resulting in a sample of 47 articles having used experiments in entrepreneurship research so far. The papers are analyzed according to their topic, methods, and research design, revealing insight into their limitations and prospective contributions.

Findings

The paper discusses the potential and disadvantages of experimental methods while arguing for experiments as the method of choice for answering causality questions. This study finds a persistent increase in experimental entrepreneurship research since its introduction in 1990.

Research limitations/implications

The study provides research from the field of entrepreneurship with future directions, with potential research areas and an orientation for those interested in conducting experiments.

Originality/value

Experiments are employed in a variety of research areas and have become more and more popular in the field of entrepreneurship. No study has analyzed the experimental studies in entrepreneurship. This paper contributes by providing an overview of the field, reflecting and discussing the outcomes while characterizing the methods employed.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 22 no. 6
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 7 March 2016

Robin Bouwman and Stephan Grimmelikhuijsen

Based on previous inventories, the purpose of this paper is to extend the knowledge on public administration experiments by focusing on their experimental type, design…

3417

Abstract

Purpose

Based on previous inventories, the purpose of this paper is to extend the knowledge on public administration experiments by focusing on their experimental type, design, sample type and realism levels and external validity. The aim is to provide an overview of experimental public administration and formulate potential ways forward.

Design/methodology/approach

The authors examine the current state of experimental public administration, by looking at a systematic selection of ISI ranked experimental publications in major public administration journals (1992-2014) and recommend ways forward based on this review.

Findings

The review indicates a rise in experimentation in public administration in recent years, this can be attributed mostly to some subfields of public administration. Furthermore, most experiments in public administration tend to have relatively simple designs, high experimental realism and a focus on external validity. Experimental public administration can be strengthened by increasing diversification in terms of samples, experimental designs, experimental types and substantive scope. Finally, the authors recommend to better utilize experiments to generate usable knowledge for practitioners and to replicate experiments to improve scientific rigour.

Originality/value

This paper contributes to experimental public administration by drawing on a systematic selection of papers and assessing them in depth. By means of a transparent and systematic selection of publications, various venues or ways forward are presented.

Details

International Journal of Public Sector Management, vol. 29 no. 2
Type: Research Article
ISSN: 0951-3558

Keywords

Book part
Publication date: 1 October 2008

Magnus Lofstrom and John Tyler

In this paper, we develop a simple model of the signaling value of the General Educational Development certificate (GED) credential. The model illustrates necessary…

Abstract

In this paper, we develop a simple model of the signaling value of the General Educational Development certificate (GED) credential. The model illustrates necessary assumptions for a difference-in-differences estimator that uses a change in the GED passing standard to yield unbiased estimates of the signaling value of the GED for marginal passers. We apply the model to the national 1997 passing standard increase, which affected GED test takers in Texas. We utilize unique data from the Texas Schools Micro Data Panel (TSMP) that contain demographic and GED test score information from the Texas Education Agency linked to pre- and post-test-taking Unemployment Insurance quarterly wage records from the Texas Workforce Commission. Comparing Texas dropouts who acquired a GED before the passing standard was raised in 1997 to dropouts with the same test scores who failed the GED exams after the passing standard hike, we find no evidence of a positive GED signaling effect on earnings. However, we find some evidence suggesting that our finding may be due to the low GED passing threshold that existed in Texas for an extended period.

Details

Work, Earnings and Other Aspects of the Employment Relation
Type: Book
ISBN: 978-1-84950-552-9

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