Randomized control trial (RTC) studies are getting more and more attention among policymakers in the last few decades. In addition, the RCT is one of the core experimental methodologies used by the recent nobel prize laureates in economics Duflo, Kremer and Banerjee.
Given the excitement around these methods, Chicago University has recently run the IGM Economic Experts Panel asking economic experts on whether the “ Randomized control trials are a valuable tool for making significant progress in poverty reduction”. The results of the poll are summarized in the graph below.
The chart above highlights respondents’ agreement distribution. What struck me most from the results was Angus Deaton’s strong disagreement with the statement – especially given that he is an expert in the field.Read more