FINALS

• When analysing markets, a range of assumptions are made about the rationality of economic agents involved in the transactions
• The Wealth of Nations was written

  1776
• Rational


  (in classical economic theory) economic agents are able to consider the outcome of their choices and recognise the net benefits of each one
• Rational agents will select the choice which presents the highest benefits
• Consumers act rationally by


  Maximising their utility
• Producers act rationally by


  Selling goods/services in a way that maximises their profits
• Workers act rationally by


  Balancing welfare at work with consideration of both pay and benefits
• Governments act rationally by


  Placing the interests of the people they serve first in order to maximise their welfare
• Groups assumed to act rationally


  • Consumers
  • Producers
  • Workers
  • Governments
• Rationality in classical economic theory is a flawed assumption as people usually don't act rationally
• A firm increases advertising

  Demand curve shifts right
• Marginal utility


  The additional utility (satisfaction) gained from the consumption of an additional product
• If you add up marginal utility for each unit you get total utility
• Data Collection is the process of gathering and measuring information on variables of interest, in an established systematic fashion that enables one to answer stated research questions, test hypotheses, and evaluate outcomes
• Purpose of Data Collection

  • Provide information
  • Measure progress
  • Support decision-making
• Steps in Data Gathering

  1. Defining your research objectives

  2. Identify data requirements

  3. Choosing the appropriate data sources

  4. Plan your data collection procedures

  5. Collecting and recording the data

  6. Data validation and quality checks

  7. Data analysis and interpretation
• Challenges in Data Gathering

  • Recruiting Participants
  • Data Collection Process
  • Data Quality and Availability
  • Time and Resource Constraints
  • Confidentiality
  • Data Privacy and Ethical Considerations
• Common Methods of Data Collection

  • Observation
  • Interview
  • Survey and Polls
  • Experiments
  • Case Studies
• Types of Research Data

  • Observational Data
  • Experimental Data
  • Simulation Data
  • Derived Data
• Primary Source


  Information obtained firsthand by the researcher on the variables of interest for the specific purpose of the study
• Secondary Source


  Information gathered from sources that already exist or published materials
• Methods of Data Collection in Quantitative Research

  • Surveys
  • Interviews
  • Document Review
• Methods of Data Collection in Qualitative Research

  • Interview
  • Observation
  • Focus Groups
  • Open-ended Surveys and Questionnaires
• Rigors in research is a way to establish trust or confidence in the findings of a research study
• Questions to check the quality of the data


  • Are the data based on your own observation or hearsay?
  • Is there corroboration by others of your observations?
  • In what circumstances was an observation made or reported?
  • How reliable are the people providing the data?
  • What motivations might have influenced a participant's report?
  • What biases might have influenced how an observation was made or reported?
• Credibility


  The truthfulness of the inquiry's findings
• Strategies used to establish credibility


  • Member checks
  • Peer review/Peer debriefing
  • Reflexivity
  • Prolonged time spent with participants
  • Using the participants' words in the final report
• Transferability


  The degree to which findings of a study can be applied or generalized to other contexts or to other groups
• Reflexivity


  • The use of self-reflection to recognize one's own biases and to actively seek them out
• Prolonged time spent with participants

  • Builds rapport, enriching data and credibility
• Ethnographic studies


  • Researchers may spend months or even years within a community to gain comprehensive insights into its culture, norms, and practices
• Using the participants' words in the final report

  • Using verbatim or direct quotations helps the reader experience the participants' world
  • Using tape recorders or video cameras enables the researcher to use these descriptors
  • Thick, rich description also helps the research convey an understanding of the study's context
• Approaches to enhancing transferability in qualitative research

  • The researcher must strive to provide accurate, detailed and complete descriptions
  • The researcher may investigate more than one case then compare with other cases in published literature, and recognize the limitation of the study
  • The researcher may describe his or her own biases
• Threats to transferability


  • Selection Effects - The fact that the constructs being investigated are unique to a single group
  • Setting Effects - The fact that results may be a function of the specific context under investigation
  • History Effects - The fact that unique historical experiences of the participants may militate against comparisons
• Dependability


  Refers to the degree of consistency, reliability, and stability of findings and interpretations throughout the research process
• How to ensure dependability in qualitative research

  • Data Triangulation
  • Peer Debriefing
  • Reflexivity and Researcher Positionality
  • Member Checking
  • Audit Trail
  • Investigator Triangulation
• Dependability should not be viewed in isolation but always in the context of the other criteria of trustworthiness
• Confirmability


  In qualitative research, it is when the insights collected reflect respondent views only - without any subjective or biased views of the qualitative researcher reporting the study's finding
• Approaches to enhancing confirmability in qualitative studies

  • Audit of Trial - Keeping a comprehensive and detailed record of the research process, including decisions made, data collected, analysis procedures, and any modifications or adjustments
  • Triangulation - Employing multiple data sources, methods, or researchers to corroborate findings and enhance the credibility and objectivity of the research
• Types of triangulation


  • Data Triangulation
  • Investigator Triangulation
  • Method Triangulation
  • Theory Triangulation
  • Environmental Triangulation