Wednesday, May 30, 2007

Experimental Economics:

  • Introduction:

Experimental Economics is a related field to behavioral economics. Unlike behavioral economics which stress on deviation from traditional definition of rationality in economic decision, experimental economics tries to emphasis on rationality concepts. In other words, experimental economics is the usage of experimental methods that are common in social psychology to prove economic theorem. Here is wikiepedia definition of experimental economics. FAQs about Experimental Economics such as "Why is experimental economics important?", "Why is testing economic theory important?", "How are the experiments set up?", "What does experimental economics contribute to education?", "How does experimental economics contribute to public policy?" are answered here.

  • Introductory Articles in Experimental Economics:

V. Smith, (1994). "Economics in the Laboratory," Journal of Economic Perspectives 8(1), 113-131. (Web-published with permission.)
V. Smith, (1987). "Experimental Methods in Economics," The New Palgrave: A Dictionary of Economics, John Eatwell, Murray Milgate, and Peter Newman, reproduced with permission of Palgrave.
V. Smith, (1982). "Microeconomic Systems as an Experimental Science," American Economic Review 72(5), 923-955.

Al'roth provide a short history of the field that is interesting and useful.

A book entitled The Methodology of Experimental Economics written by Francesco Guala is completely accessable

  • Associations and Research Centers in Experimental Economics:

Economic Science Association is a professional organization devoted to experimental economics.

The Interdisciplinary Center for Economic Science (ICES) at George Mason University, USA. (Nobel Laurate Vernon Smith is head of this center)

Here (+, + and +) are long lists of experimental research centers.

  • Website/Weblogs in Experimental Economics:

Here is a page which contain links of many expermiental economics research centers.

Al Roth's Game Theory and Experimental Economics Page is a famouse and wellknown website which include usefull links in this topics.

  • Important Projects:

The European Network for the Development of Experimental Economics

French NETwork in EXperimental economics

  • Course Syllabus

A nice and comprehensive syllabus in behavioral and experimental economics by Prof. Dr. Martin Kocher can be find here.

  • Journals:

Experimental Economics Journal


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