Feasibility Sample Size Justification

This blog post is now included in the paper "Sample size justification" available at PsyArXiv. When you perform an experiment, you want it to provide an answer to your research question that is as informative as possible. However, since all scientists are faced with resource limitations, you need to balance the cost of collecting each additional datapoint against the increase in information that datapoint provides. In economics, this is known as the Value of Information (Eckermann et al., 2010).