Randomization and Social Policy Evaluation Revisited
This paper considers the evidence on the effectiveness and limitations of randomized controlled trials in economics. I revisit my previous paper "Randomization and Social Policy Evaluation" and update its message. I present a brief history of randomization in economics and identify two waves of enthusiasm for the method as "Two Awakenings" because of the near-religious zeal associated with both waves. I briefly summarize the lessons of the first wave and forecast the same lessons will be learned in the second wave.
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