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Toward a Cognitive Experimental Economics

Author

Listed:
  • Marco Novarese

    (Centre for Cognitive Economics - Università del Piemonte Orientale)

Abstract

This paper aims to analyze and exemplify some methodological implications on the way to conduct experiments related to the adoption of a cognitive approach in Economics. Many differences arise in relation to a more traditional way. In fact cognitive economics has strong descriptive attention and aims at beeing closer to reality than the mainstream. Besides the idea of representative agents is questioned. Different kind of experiments, differents analysis and new tools are so required. The paper proposes also some notes on the relation between experimental economics and simulation with artificial agents.

Suggested Citation

  • Marco Novarese, 2002. "Toward a Cognitive Experimental Economics," Experimental 0211002, EconWPA.
  • Handle: RePEc:wpa:wuwpex:0211002
    Note: Type of Document - PDF; prepared on IBM PC - PC-TEX; to print on HP; pages: 18; figures: included. forthcoming in a book on Cognitive Economics (title to be defined) edited by Salvatore Rizzello
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    File URL: http://econwpa.repec.org/eps/exp/papers/0211/0211002.pdf
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    References listed on IDEAS

    as
    1. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    2. Nigel Gilbert & Pietro Terna, 2000. "How to build and use agent-based models in social science," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 1(1), pages 57-72, March.
    3. Egidi, Massimo & Narduzzo, Alessandro, 1997. "The emergence of path-dependent behaviors in cooperative contexts," International Journal of Industrial Organization, Elsevier, vol. 15(6), pages 677-709, October.
    4. Andreoni, James, 1995. "Cooperation in Public-Goods Experiments: Kindness or Confusion?," American Economic Review, American Economic Association, vol. 85(4), pages 891-904, September.
    5. Hugh Kelley & Daniel Friedman, 2002. "Learning to Forecast Price," Economic Inquiry, Western Economic Association International, vol. 40(4), pages 556-573, October.
    6. Roth, Alvin E., 1993. "The Early History of Experimental Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 15(02), pages 184-209, September.
    7. Leigh Tesfatsion, 2002. "Agent-Based Computational Economics," Computational Economics 0203001, EconWPA, revised 15 Aug 2002.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    cognitive economics; experimental economics; learning;

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D2 - Microeconomics - - Production and Organizations

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