Name: Rakesh Kumar Sudan
Country: India

Year: 2021
Volume: Volume-6, Issue-1 (January-June)
Page Number: 21-23

The experimental science community of social sciences finds itself at cross roads of 'credibility inflexion point' in matter of experimental research. Growning concerns over the replicability of published results in fields, including psychology (Nelson 2018) and economics (Camerer 2016), have inspired researchers to reconsider the way they formulate hypotheses, collect and analyse data, and interpret their findings (see, for example, Ioannidis 2005, Simmons 2011, Maniadis 2014, Brodeur 2016, and Munafó 2017). Experiments in constrained settings take away more or less the realism of the observations. Quality of existing data, data gaps is also an issue. Thus experimental necessity of social sciences becomes a buzzword in the present advanced technology of data analysis. However certain issues like replicability of the experiments hang around in the experimental domain related to economics.
However, it's not just replicability issue that lies at the core. While it is of first-order importance to embrace research practices that increase reproducibility, experimental economists also must tackle the generalizability and applicability of the evidence they produce (Banerjee 2017). For example, permanent in come is an important explanatory variable in Friedman's consumption-income relationship. Many ways can guide us to an estimate of this entity. However, one which gives the best approximation needs to be explored. Same can be said about the factors determining the shape of Phillips curve After all, we are not only interested in ensuring that the same experiment yields the same outcome when it is repeated. Ideally, we would like to be able to generalise our findings to different contexts, and produce insights that contribute to economic the oryand policy discussions.