Economics Lab: An Introduction to Experimental Economics (Routledge Advances in Experimental & Computable Economics)

by Dan Friedman (Author)

Paperback: 256 pages

Publisher: Routledge; 1 edition (March 12, 2004)

Language: English

Review
Twenty-two papers, developed from lectures and student projects at the June 2001 Trento Summer School in Experimental Economics that was organized through the Computable and Experimental Economics Laboratory of the University of Trento, provide a self-contained introduction to experimental economics for economist.
–Journal of Economic Literature, 12/2004

Book Description
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.

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• Economics Lab - An Intensive Course in Experimental Economics.pdf

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