Lab experiement is where the IV is manipulated to see the effects on the DV. Conducted in a highly controlled environment, where conditions can be controlled.
Strength of Lab experiments
High internal validity
High control over variables
Replication is possible
Allows us to draw conclusions
Weakness of Lab experiments
Lacks generalizability - due to artificial settings
Lacks mundane realism
Participants are subject to demand characteristics
Field experiment is when the IV is manipulated but in a more natural setting. E.g: On the street, in an office, a hospital etc.
Strengths of field experiment
Higher mundane realism because the tasks tend to be more like what they would do in everyday life
Often do not know they are being studied - less chance of demand characteristics
High external validity
Weakness of Field experiment
Less control - lacks internal validity and higher chance of extraneous variables affecting the DV, making it more difficult to establish cause and effect