Implementing theoretical models in the laboratory, and what this can and cannot achieve
We investigate the methodology used in a significant genre of experimental economics, in which experiments are designed to test theoretical models by implementing them in the laboratory. Using two case studies, we argue that such an experiment is a test, not of what the model says about its target domain, but of generic theoretical components used in the model. The properties that make a model interesting as a putative explanation of phenomena in its target domain are not necessarily appropriate for such tests. We consider how this research strategy has been legitimised within the community of experimental economists.
If 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 18 (2011)
Issue (Month): 4 (December)
|Contact details of provider:|| Web page: http://www.tandfonline.com/RJEC20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RJEC20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Steven Salop & Joseph Stiglitz, 1977.
"Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion,"
Review of Economic Studies,
Oxford University Press, vol. 44(3), pages 493-510.
- Steven C. Salop & Joseph E. Stiglitz, 1977. "Bargains and ripoffs: a model of monopolistically competitive price dispersion," Special Studies Papers 94, Board of Governors of the Federal Reserve System (U.S.).
- Varian, Hal R, 1980. "A Model of Sales," American Economic Review, American Economic Association, vol. 70(4), pages 651-659, September.
- Nicholas Bardsley & Robin Cubitt & Graham Loomes & Peter Moffatt & Chris Starmer & Robert Sugden, 2009. "Experimental Economics: Rethinking the Rules," Economics Books, Princeton University Press, edition 1, number 9074.
- Mary Morgan, 2005. "Experiments versus models: New phenomena, inference and surprise," Journal of Economic Methodology, Taylor & Francis Journals, vol. 12(2), pages 317-329.
- Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992. "A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
- Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
- Anderson, Lisa R & Holt, Charles A, 1997. "Information Cascades in the Laboratory," American Economic Review, American Economic Association, vol. 87(5), pages 847-862, December.
- Nicholas Bardsley, 2005. "Experimental economics and the artificiality of alteration," Journal of Economic Methodology, Taylor & Francis Journals, vol. 12(2), pages 239-251.
- Croson, Rachel & Gächter, Simon, 2010. "The science of experimental economics," Journal of Economic Behavior & Organization, Elsevier, vol. 73(1), pages 122-131, January.
- Rachel Croson & Simon Gächter, 2009. "The Science of Experimental Economics," Post-Print hal-00737932, HAL.
- Guala,Francesco, 2005. "The Methodology of Experimental Economics," Cambridge Books, Cambridge University Press, number 9780521618618.
- Guala,Francesco, 2005. "The Methodology of Experimental Economics," Cambridge Books, Cambridge University Press, number 9780521853408.
- Hausman,Daniel M., 1992. "The Inexact and Separate Science of Economics," Cambridge Books, Cambridge University Press, number 9780521415019.
- Plott, Charles R, 1982. "Industrial Organization Theory and Experimental Economics," Journal of Economic Literature, American Economic Association, vol. 20(4), pages 1485-1527, December.
- Plott, Charles R., "undated". "Industrial Organization Theory and Experimental Economics," Working Papers 405, California Institute of Technology, Division of the Humanities and Social Sciences.
- Hausman,Daniel M., 1992. "The Inexact and Separate Science of Economics," Cambridge Books, Cambridge University Press, number 9780521425230. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:taf:jecmet:v:18:y:2011:i:4:p:323-343. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.