Experimental economics

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An examination of an area of economic research whereby economists have begun to use laboratories to evaluate economic propositions under carefully controlled conditions. The authors argue for the effectiveness of this technique in selected circumstances.

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Title Statements

Full title :Experimental economics / Douglas D. Davis, Charles A. Holt.

Summary

Edition Statements

Publication Date:1993

Publication Statements

Publisher(s):Princeton University Press
Place of Publication:Princeton, New Jersey
Language:eng
Publication Date:1993

The Physical Object

Description:1 online resource (viii, 572 pages) : : illustrations

Edition Identifiers

ISBN:9780691233376, 0691233373
oclc:on1260694798
LC Classification:HB131
Dewey Decimal:330/.072

1. Introduction and overview. A brief history of experimental economics -- A sample design for a market experiment -- Experimental methods: advantages and limitations -- Types of experiments -- Some procedural and design considerations -- Laboratory trading institutions. Appendices: Oral-double auction instructions; Suggestions for conducting and oral-double auction. 2. Decisions and games. Lotteries and expected values -- A sequential search experiment -- Expected-utility maximization and risk aversion -- Game theory, natural form games -- Extensive forms and backward-induction rationality -- Decision theory, game theory, and price theory -- Appendices: Derivation of the reservation wage; Instructions for a sequential search experiment; Constructing a von Neumann-Morgenstern utility function; Sequential equilibria; Instructions for the centepede game.

3. Double-auction markets. Double-auction procedures and performance -- Computers and the double auction -- Double-auction results: design effects; structural boundaries -- Multiple, interrelated double-auction markets -- Double-auction asses markets. 4. Posted-offer markets. Posted-offer procedures and performance -- Posted offer …

Subjects

Économie expérimentale Experiment Experimental economics Experimentelle Wirtschaftsforschung Lehrbuch Methode Methodologie Volkswirtschaftslehre -- Methode Wirtschaftsforschung Wirtschaftswissenschaften