Economics Lab: An Intensive Course in Experimental Economics

by Cassar; Alessandra

• ISBN13: 9780415324021
• ISBN10: 0415324025
• Edition: 1st
• Format: Nonspecific Binding
• Copyright: 2004-03-12
• Publisher: Routledge

Summary

Laboratory experiments with human subjects provide crucial data in most fields of economics. There has been a tremendous upsurge in interest in this relatively new field of economics. This textbook is an introduction to the world of experimental economics. Contributors such as Reinhard Selten and Axel Leijonhufvud add to a book that begins with an exploration of the history of experimental economics before moving on to describing how to set up an economics experiment and surveying selected applications and the latest methods. This user-friendly book demonstrates how students can use the lessons learned within it to conduct original research. With their free-flowing, discursive yet precise style, Friedman and Cassar have created a book that will be simply essential to students of experimental economics across the world. Thanks to its authoritative content, the book will also find its way onto every respectable economists bookshelf.

Table of Contents

List of illustrations	viii
List of contributors	xi
Acknowledgments	xiii
PART I Introductions	1	(22)
An intensive course in experimental economics	3	(2)
DANIEL FRIEDMAN
1 The Trento Summer School: adaptive economic dynamics	5	(7)
AXEL LEIJONHUFVUD
2 Economists go to the laboratory: who, what, when, and why	12	(11)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
PART II Laboratory methods	23	(58)
3 First principles: induced value theory	25	(7)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
4 The art of experimental design	32	(6)
DAMEL FRIEDMAN AND ALESSANDRA CASSAR
5 Dialogues with the data	38	(27)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
6 Do it: running a laboratory session	65	(10)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
7 Finish what you started: project management	75	(6)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
PART III Applications	81	(90)
8 Markets	83	(9)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
9 Auctions	92	(13)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
10 Oligopoly	105	(10)
STEFFEN HECK
11 Games	115	(18)
ROSEMARIE NAGEL
12 Learning direction theory and impulse balance equilibrium	133	(8)
REINHARD SELTEN
13 Imitation equilibrium	141	(7)
REINHARD SELTEN
14 Choice anomalies	148	(13)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
15 Policy analysis and institutional engineering	161	(10)
DANIEL FRIEDMAN AND ALESSANDRA CASSAR
PART IV Student projects	171	(58)
16 An asset market experiment	173	(6)
JOHN LATSIS, TOBIAS LINDQVIST, EVAN MOORE, AND KYU SANG LEE
17 Bifurcation In a stock market experiment	179	(8)
DEBORAH LACITIGNOLA AND ALESSANDRA LA NOTTE
18 Price instability and search	187	(8)
MIGUEL CURA-JURI AND SEBASTIAN GALIANI
19 Animal-spirits cycles	195	(7)
JASON HWANG
20 The restart effect	202	(8)
JINKWON LEE AND JOSE LUIS LIMA
21 Zone of agreement bias in integrative negotiation	210	(10)
FABIO FERIOZZI, LIVIA REINA, AND ALESSANDRO SCARTEZZINI
22 Culture from scratch: evolution of an experiment	220	(9)
WILLIAM ROBERT NELSON JR, ELENNA R. DUGUNDJI, JANE LI, AND MARCO TECILLA
Index	229