Economics Lab : An Intensive Course in Experimental Economics book cover
1st Edition

Economics Lab
An Intensive Course in Experimental Economics

ISBN 9780415324021
Published March 12, 2004 by Routledge
248 Pages

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Book Description

Laboratory experiments with human subjects now provide crucial data in most fields of economics and there has been a tremendous upsurge in interest in this relatively new field of economics. This textbook introduces the student to the world of experimental economics.

Contributors including Reinhard Selten and Axel Leijonhufvud that sketch the history of experimental economics before moving on to describe how to set up an economics experiment and to survey selected applications and the latest methods. This user-friendly book demonstrates how students can use the lessons to conduct original research.
With their freeflowing, discursive yet precise style, Friedman and Cassar have created a book that is essential to students of experimental economics across the world. On account of its authoritative content, Economics Lab will also find its way on to the bookshelves of leading researchers in all fields of economics.

Table of Contents

Part 1: Introductions  1. An Intensive Course in Experimental Economics  2. The Trento Summer School  3. Economists Go to the Laboratory: Who, What, When and Why?  Part 2: Laboratory Methods  4. First Principles: Induced Value Theory  5. The Art of Experimental Design  6. Dialogues with the Data  7. Do it: Running a Laboratory Session  8. Finish What You Started: Project Management  Part 3: Applications  9. Markets  10. Auctions  11. Oligopoly  12. Games  13. Learning Direction Theory and Impulse Balance Equilibrium  14. Imitation Equilibrium  15. Choice Anomalies  16. Institutional Engineering  Part 4: Projects  17. An Asset Market Experiment  18. Bifurcation in a Stock Market Experiment  19. Price Instability and Search  20. Animal-Spirits Cycles  21. The Restart Effect  22. Integrative Negotiation  23. Culture from Scratch

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Daniel Friedman is Professor of Economics at the University of California, Santa Cruz, USA.
Alessandra Cassar is Assistant Professor of Economics at the University of San Francisco, USA.