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Searching beyond the lamppost: Let’s focus on economically relevant questions

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  • Oechssler, Jörg

Abstract

Experimental economics is in danger of behaving like the famous drunk who searches for his keys under the light even though he lost them in some dark corner. It is argued that we are wasting our time (and endangering the respect that other economists have for experimentalists) by playing too much with some of our favorite toys, like the dictator game, rather than focus on new and economically relevant designs.

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Paper provided by University of Heidelberg, Department of Economics in its series Working Papers with number 0486.

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Date of creation: 28 Aug 2009
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Handle: RePEc:awi:wpaper:0486

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References

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  1. Smith, Vernon L., 2010. "Theory and experiment: What are the questions?," Journal of Economic Behavior & Organization, Elsevier, vol. 73(1), pages 3-15, January.
  2. Smith, Vernon L & Suchanek, Gerry L & Williams, Arlington W, 1988. "Bubbles, Crashes, and Endogenous Expectations in Experimental Spot Asset Markets," Econometrica, Econometric Society, vol. 56(5), pages 1119-51, September.
  3. Oechssler, Jörg & Roider, Andreas & Schmitz, Patrick W., 2008. "Cooling-Off in Negotiations - Does It Work?," Sonderforschungsbereich 504 Publications 08-06, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
  4. Oxoby, Robert J. & Spraggon, John, 2008. "Mine and yours: Property rights in dictator games," Journal of Economic Behavior & Organization, Elsevier, vol. 65(3-4), pages 703-713, March.
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Cited by:
  1. Kohler, Stefan, 2011. "Altruism and fairness in experimental decisions," Journal of Economic Behavior & Organization, Elsevier, vol. 80(1), pages 101-109.
  2. D. Urbig & G.U. Weitzel & S. Rosenkranz & A. van Witteloostuijn, 2011. "Exploiting opportunities at all cost? Entrepreneurial intent and externalities," Working Papers 11-05, Utrecht School of Economics.
  3. Wolfgang Luhan & Odile Poulsen & Michael Roos, 2013. "Unstructured Bargaining over an Endogenously Produced Surplus and Fairness Ideals: An Experiment," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 13-10, School of Economics, University of East Anglia, Norwich, UK..
  4. Nadine Chlaß & Peter G. Moffatt, 2012. "Giving in Dictator Games - Experimenter Demand Effect or Preference over the Rules of the Game?," Jena Economic Research Papers 2012-044, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  5. Houser, Daniel & Vetter, Stefan & Winter, Joachim, 2010. "Fairness and Cheating," Munich Reprints in Economics 19376, University of Munich, Department of Economics.
  6. Michael Kirchler & Juergen Huber & Thomas Stoeckl, 2011. "Thar she bursts - Reducing confusion reduces bubbles," Working Papers 2011-08, Faculty of Economics and Statistics, University of Innsbruck.
  7. Cheung, Stephen L. & Hedegaard, Morten & Palan, Stefan, 2014. "To see is to believe: Common expectations in experimental asset markets," European Economic Review, Elsevier, vol. 66(C), pages 84-96.
  8. Giovanni Giusti & Janet Hua Jiang & Yiping Xu, 2014. "Interest on Cash, Fundamental Value Process and Bubble Formation on Experimental Asset Markets," Working Papers 14-18, Bank of Canada.
  9. Jürgen Huber & Michael Kirchler, 2012. "The impact of instructions and procedure on reducing confusion and bubbles in experimental asset markets," Experimental Economics, Springer, vol. 15(1), pages 89-105, March.
  10. Daniel John Zizzo, 2011. "Do dictator games measure altruism?," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 12-03, School of Economics, University of East Anglia, Norwich, UK..
  11. Andreas Orland & Michael W.M. Roos, 2013. "Unstructured Bargaining over an Endogenously Produced Surplus and Fairness Ideals – An Experiment," Ruhr Economic Papers 0439, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  12. Fischbacher, Urs & Hens, Thorsten & Zeisberger, Stefan, 2013. "The impact of monetary policy on stock market bubbles and trading behavior: Evidence from the lab," Journal of Economic Dynamics and Control, Elsevier, vol. 37(10), pages 2104-2122.
  13. Giusti, Giovanni & Jiang, Janet Hua & Xu, Yiping, 2012. "Eliminating Laboratory Asset Bubbles by Paying Interest on Cash," MPRA Paper 37321, University Library of Munich, Germany.

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