What Mechanism Design Theorists Had to Say About Laboratory Experimentation in the Mid-1980s
AbstractThanks to the recent studies of the history and philosophy of experimental economics, it is well known that around the early 1980s, experimental economists made a case for the legitimacy of their laboratory work by emphasizing that it was a nice and indispensable complement to mechanism design theorists’ mathematical study of institutions. The present paper examines what mechanism design theorists thought of laboratory experimentation, or whether they were willing to form a coalition with experimental economists circa the mid-1980s. By exploring several dimensions of the relationship between mechanism design theory and experimental economics, the present paper shows that a close rapport had been established by the early 1980s between the representative members of the two camps, and also that mechanism design theorists were among the strongest supporters of laboratory experimentation in the economics profession in the mid-1980s.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Center for the History of Political Economy in its series Center for the History of Political Economy Working Paper Series with number 2013-18.
Date of creation: 2013
Date of revision:
Contact details of provider:
Postal: Center for the History of Political Economy Box 90097 Durham, NC 27708-0097
Phone: (919) 660-6899
Web page: http://hope.econ.duke.edu
mechanism design theory; experimental economics; institutional design; Stanley Reiter; Vernon Smith; Charles Plott;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-04-11 (All new papers)
- NEP-CBE-2014-04-11 (Cognitive & Behavioural Economics)
- NEP-EXP-2014-04-11 (Experimental Economics)
- NEP-GER-2014-04-11 (German Papers)
- NEP-HIS-2014-04-11 (Business, Economic & Financial History)
- NEP-HME-2014-04-11 (Heterodox Microeconomics)
- NEP-HPE-2014-04-11 (History & Philosophy of Economics)
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Center for the History of Political Economy Webmaster).
If references are entirely missing, you can add them using this form.