Definition

Natural Experiment

A natural experiment is an empirical study where a naturally occurring external event, such as a change in institutions or a natural disaster, is used to investigate causal relationships. Researchers compare the outcomes for the economic actors who were affected by this event (the treatment group) against those who were not (the control group). This scenario mimics a controlled experiment because the external event creates distinct comparison groups without the researcher's intervention, allowing for causal inferences about the event's impact.

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Updated 2026-05-02

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