In this paper, I focus on the role that artefactual and certain framed field experiments (what I term “lab‐like field experiments” or LFEs) play in informing policymaking. Using examples, primarily from rural contexts in developing countries, I identify four main purposes of LFEs: (1) to test theories or heuristic principles; (2) to identify and estimate parameters associated with characteristics; (3) to explore the structural nature of parameters derived from empirical methods including other types of experiments; and (4) to assess methodological difficulties associated with LFEs and how these can impact parameter estimates. I address the importance of generalizability for LFEs that are intended to inform policymaking and in the process, emphasize the complementary role between LFEs and other empirical methods, in particular other experiments. Finally, I discuss nine basic principles for conducting LFEs and suggest four directions for future research.