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Microfoundations for Structures and Evolution: Evidence from Experiments

Author

Listed:
  • Francesco Bogliacino
  • Cristiano Codagnone

Abstract

The article discusses whether and to what extent experiments can contribute to a research paradigm based on the study of human behaviour in complex evolving environments and on the problem of asymmetric adjustment among different components of economic system along certain trajectories, focusing on the possibility that experimental evidence may represent an external consistency check on this type of heterodox modelling. It considers methodological issues related with the concept of validity, the evidence on rationality of human agents, and the possibility to identify a microfoundation alternative to homo oeconomicus, discussing the evidence on humans as strong reciprocators, as trusting individuals and as embedded in social norms.

Suggested Citation

  • Francesco Bogliacino & Cristiano Codagnone, 2017. "Microfoundations for Structures and Evolution: Evidence from Experiments," Documentos de Trabajo - Escuela de Economía 015379, Universidad Nacional de Colombia -FCE - CID.
  • Handle: RePEc:col:000178:015379
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    File URL: http://www.fce.unal.edu.co/centro-editorial/docs/escuela-de-economia/82-microfoundations-for-structures-and-evolution-evidence-from-experiments
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    Cited by:

    1. Orlando, Giuseppe, 2022. "Simulating heterogeneous corporate dynamics via the Rulkov map," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 32-42.

    More about this item

    Keywords

    Experiments; Causality; Heuristics; Learning; Bounded Rationality; Altruism; Punishment; Trust; Norms;
    All these keywords.

    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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