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Introduction to Experimental Economics
[Experimental Economics]

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Author Info

  • Douglas D. Davis

    (Department of Economics, Virginia Commonwealth University)

  • Charles A. Holt

    (Department of Economics, University of Virginia)

Abstract

This is the first comprehensive treatment of laboratory experiments designed to evaluate economic propositions under carefully controlled conditions. While it acknowledges that laboratory experiments are no panacea, it argues cogently for their effectiveness in selected situations. Covering methodological and procedural issues as well as theory, Experimental Economics is not only a textbook but also a useful introduction to laboratory methods for professional economists. The emphasis is on organizing and evaluating existing results. The book can be used as an anchoring device for a course at either the graduate or advanced undergraduate level. Applications include financial market experiments, oligopoly price competition, auctions, bargaining, provision of public goods, experimental games, and decision making under uncertainty. The book also contains instructions for a variety of laboratory experiments.

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Bibliographic Info

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This chapter was published in: Douglas D. Davis & Charles A. Holt , , pages , 1992.

This item is provided by Princeton University Press in its series Introductory Chapters with number 5255-1.

Handle: RePEc:pup:chapts:5255-1

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Web page: http://press.princeton.edu

Related research

Keywords: laboratory experiments; financial markets; price competition; auctions; bargaining; games; decision making; uncertainty;

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Citations

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Cited by:
  1. Schulze, William D. & McClelland, Gary H. & Lazo, Jeffrey K. & Rowe, Robert D., 1998. "Embedding and calibration in measuring non-use values," Resource and Energy Economics, Elsevier, vol. 20(2), pages 163-178, June.
  2. Bonetti, Shane, 1998. "Experimental economics and deception," Journal of Economic Psychology, Elsevier, vol. 19(3), pages 377-395, June.
  3. Park, Eun-Soo, 2000. "Warm-glow versus cold-prickle: a further experimental study of framing effects on free-riding," Journal of Economic Behavior & Organization, Elsevier, vol. 43(4), pages 405-421, December.
  4. Doyon, Maurice & Novakovic, Andrew M., 1997. "An Application of Experimental Economics to Agricultural Policies: The Case of U.S. Dairy Deregulation on Farm-Level Markets," Research Bulletins 122807, Cornell University, Department of Applied Economics and Management.
  5. Nicholas Bardsley, 2000. "Control without Deception," Tinbergen Institute Discussion Papers 00-107/1, Tinbergen Institute.
  6. Ito, Masaru & Saijo, Tatsuyoshi & Une, Masashi, 1995. "The Tragedy of the Commons revisited Identifying behavioral principles," Journal of Economic Behavior & Organization, Elsevier, vol. 28(3), pages 311-335, December.
  7. Sefton, Martin & Steinberg, Richard, 1996. "Reward structures in public good experiments," Journal of Public Economics, Elsevier, vol. 61(2), pages 263-287, August.
  8. Dominique Vermersch & Philippe Le Goffe & François Bonnieux, 1995. "La méthode d'évaluation contingente : application à la qualité des eaux littorales," Économie et Prévision, Programme National Persée, vol. 117(1), pages 89-106.
  9. Deck, Cary A., 2004. "Avoiding hyperinflation: Evidence from a laboratory economy," Journal of Macroeconomics, Elsevier, vol. 26(1), pages 147-170, March.
  10. Koji Kotani & Shunsuke Managi & Kenta Tanaka, 2008. "Further investigations of framing effects on cooperative choices in a provision point mechanism," Economics Bulletin, AccessEcon, vol. 3(51), pages 1-9.
  11. Pitassi, Cristina & Hey, John D., 1995. "Market entry: An experimental investigation," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 24(1), pages 21-49.
  12. Krishnamurthy, Sandeep & Tripathi, Arvind K., 2009. "Monetary donations to an open source software platform," Research Policy, Elsevier, vol. 38(2), pages 404-414, March.
  13. Vogt, Nora & Reeson, Andrew F. & Bizer, Kilian, 2013. "Communication, competition and social gift exchange in an auction for public good provision," Ecological Economics, Elsevier, vol. 93(C), pages 11-19.
  14. Innocenti, Alessandro, 2010. "How a psychologist informed economics: The case of Sidney Siegel," Journal of Economic Psychology, Elsevier, vol. 31(3), pages 421-434, June.
  15. Ruijgrok, Matthijs, 2012. "A single-item continuous double auction game," MPRA Paper 42086, University Library of Munich, Germany.

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