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Billions of Dollars Worth of Experiments: Calibrating Clinical Trial Investments

  • Yusuke NaritaEmail author
Chapter

Abstract

Now is the golden age of Randomized Controlled Trials (RCTs; equivalently, randomized experiments or A/B tests). RCTs are the society-wide standard of evidence, being popular in business and politics (Siroker and Koomen 2013), as well as public policy (Gueron and Rolston 2013) and the social sciences (Banerjee and Duflo 2012). At their historical origin, RCTs started as safety and efficacy tests of drugs and medical treatments, i.e., clinical trials (Gaw 2009).

References

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Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Department of Economics, Cowles Foundation, and Y-RISEYale UniversityNew HavenUSA

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