This research review discusses the most critical and influential articles that utilise field experimentation to answer questions of economic importance. Field experiments have gained popularity in recent years, allowing researchers to infer causal effects of different market environments, policies and interventions. The articles analysed here provide insights into market functioning and individual and group decision-making across a wide range of domains, including marketplace transactions, labor decisions, charitable giving, financial planning, and education and health-related decision-making. This research review will be an important resource for students new to the methodology and applications of field experiments and academics alike.
Stan J. Liebowitz and Stephen E. Margolis
Since their first emergence in the work of Paul David thirty years ago, the dual issues of Path Dependence and Lock-In have become critically important subjects in the fields of economics, sociology, and business strategy. Theoretical and public policy debates on these issues have arisen, addressing whether markets consistently choose the best products. This research review presents each side of the debate, bringing together key publications that initiated this literature with the later works that criticize or defend many of the early claims. Both the theoretical and empirical foundations of Path Dependence and Lock-In are examined along with the role of network effects.
This research review addresses the broader legal, policy and regulatory issues confronting the international community in its search for effective methodologies to combat money laundering and terrorist financing. New threats must always be met with new regulatory and compliance approaches. The author critically examines the 2012 revision to the Financial Action Task Force, selecting key papers that focus on compliance perspectives, including work examining the recent shift from a rule-based to a risk-based approach.