Dynamics, Experimental Economics, and Entrepreneurship
Economic experiments are introduced and proposed as the methodology of choice for a subset of research questions in technological entrepreneurship, an approach that has not yet been used in this field. Moreover, we provide an entrepreneurship-specific framework that matches types of research questions and feasible empirical methods. For example, a very dynamic environment is seen as a threat to most field studies, whereas the need to have entrepreneurs or other practitioners as subjects is almost a criterion for preclusion in economic experiments. The design of a recent economic experiment dealing with the timing of exploitation of an R&D based opportunity is explained and analyzed. We finally discuss the applicability of economic experiments to entrepreneurship questions in technology transfer. Copyright Springer Science+Business Media, Inc. 2005
Volume (Year): 30 (2005)
Issue (Month): 4 (October)
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- Werner Güth & Carsten Schmidt & Matthias Sutter, 2007.
"Bargaining outside the lab - a newspaper experiment of a three-person ultimatum game,"
Royal Economic Society, vol. 117(518), pages 449-469, 03.
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- Werner Güth & Carsten Schmidt & Matthias Sutter, 2005. "Bargaining Outside the Lab – A Newspaper Experiment of a Three-Person Ultimatum Game," Papers on Strategic Interaction 2002-11, Max Planck Institute of Economics, Strategic Interaction Group.
- Carsten Schmidt & Matthias Sutter & Werner Güth, 2005. "Bargaining Outside the Lab - A Newspaper Experiment of a Three-Person Ultimatum Game," Papers on Strategic Interaction 2006-04, Max Planck Institute of Economics, Strategic Interaction Group.