Experimental methods: a primer for economists

Experimental economics is a rapidly growing field of inquiry, and there currently exist several textbooks and surveys describing the results of laboratory experiments in economics. This primer, however, is the first hands-on guide to the physical aspects of actually conducting experiments in economics. It tells researchers, teachers and students in economics how to deal with human subjects, how to design meaningful laboratory environments, how to design experiments, how to conduct experiments and how to analyse and report the data. It also deals with methodological issues. It can be used to structure an undergraduate or graduate course in experimental economics.

Introduction. Economics as an experimental discipline ; The engine of scientific progress ; Data sources ; Purposes of experiments -- Principles of economics experiments. Realism and models ; Controlled economic environments ; Induced-value theory ; Parallelism ; Practical implications ; Application : the Hayek hypothesis -- Experimental design. Direct experimental control : constants and treatments ; Indirect control : randomization ; The within-subjects design as an example of blocking and randomization ; Other efficient designs ; Practical advice ; Application : new market institutions -- Human subjects. Who should your subjects be? ; Subjects' attitudes toward risk ; How many subjects? ; Trading commissions and rewards ; Instructions ; Recruitment and maintaining subject history ; Human subject committees and ethics ; Application : bargaining experiments -- Laboratory facilities. Choosing between manual and computer modes ; Manual laboratory facilities ; Computerized laboratory facilities ; Random number generation ; Application : experiments with monetary overlapping generations economies

Conducting an experiment. Lab log ; Pilot experiments ; Lab setup ; Registration ; Cond…