Experimental Methods: A Primer for EconomistsExperimental economics is a rapidly growing field of inquiry, and there currently exist several textbooks and surveys describing the results of laboratory experiments in economics. This primer, however, is the first hands-on guide to the physical aspects of actually conducting experiments in economics. It tells researchers, teachers and students in economics how to deal with human subjects, how to design meaningful laboratory environments, how to design experiments, how to conduct the experiments, and how to analyze and report the data. It also deals with methodological issues. It can be used to structure an undergraduate or graduate course in experimental economics. |
Contents
Introduction | 1 |
12 The engine of scientific progress | 2 |
13 Data sources | 3 |
131 Some evidence | 6 |
14 Purposes of experiments | 7 |
Principles of economics experiments | 10 |
22 Controlled economic environments | 12 |
24 Parallelism | 15 |
Conducting an experiment | 74 |
63 Lab setup | 75 |
65 Conductors | 76 |
67 Instruction | 77 |
69 Dryrun periods | 78 |
611 Recording the data | 79 |
613 Laboratory termination of infiniteperiod economies | 80 |
615 Payment | 81 |
25 Practical implications | 17 |
The Hayek hypothesis | 18 |
Experimental design | 21 |
Constants and treatments | 22 |
33 The wit binsubjects design as an example of blocking and randomization | 25 |
34 Other efficient designs | 26 |
35 Practical advice | 29 |
352 Disposition of variables | 30 |
353 Phases of experimentation | 31 |
New market institutions | 32 |
361 Performance testing | 33 |
562 Development testing | 34 |
Human subjects | 38 |
41 Who should your subjects be? | 39 |
412 Professionals | 40 |
413 Classroom experiments | 43 |
414 Gender | 44 |
43 How many subjects? | 47 |
44 Trading commissions and rewards | 48 |
442 Rewards | 49 |
443 The bankruptcy problem | 51 |
45 Instructions | 52 |
452 Examples | 53 |
455 Duration of an experimental session | 54 |
47 Human subject committees and ethics | 55 |
Bargaining experiments | 56 |
Laboratory facilities | 61 |
511 Partial computerization | 63 |
53 Computerized laboratory facilities | 64 |
533 Furniture | 65 |
535 Software | 66 |
54 Random number generation | 67 |
Experiments with monetary overlapping generations economies | 68 |
551 Equilibrium selection in a simple OLG economy | 69 |
552 Hyperinflationary monetary economies | 71 |
617 Bailout plan | 82 |
Data analysis | 85 |
71 Graphs and summary statistics | 86 |
Preliminaries | 93 |
722 Good samples and bad samples | 95 |
73 Reference distributions and hypothesis tests | 99 |
732 External reference distributions | 103 |
733 More statistical tests | 104 |
74 Practical advice | 106 |
Firstprice auctions | 107 |
Reporting your results | 110 |
82 Organization | 112 |
83 Prose tables and figures | 113 |
84 Documentation and replicability | 114 |
85 Project management | 115 |
Assetmarket experiments | 116 |
The Emergence of experimental economics | 121 |
91 Economics as an experimental science | 122 |
92 Games and decisions up to 1952 | 124 |
93 Two pioneers | 125 |
94 Experimental economics in Germany | 127 |
95 Early classroom markets | 128 |
96 Building theoretical foundations 196076 | 129 |
97 Joining the economics mainstream | 131 |
98 Divergence from experimental psychology | 132 |
Laboratory games | 134 |
Readings in experimental economies | 143 |
Instructions and procedures | 174 |
Forms | 201 |
Econometrica guidelines | 205 |
List of experimental economies laboratories | 207 |
Glossary | 211 |
References | 215 |
227 | |
Other editions - View all
Experimental Methods: A Primer for Economists Daniel Friedman,Shyam Sunder No preview available - 1994 |
Common terms and phrases
Allocation American Economic Review Asset Markets bargaining bids buyers Charles committee computerized conduct cost decisions double auction earnings Econometrica Economic Theory economics experiments effects efficiency empirical example exit period experimental design Experimental Economics experimental economists Experimental Markets Experimental Study experimentalists focus variable Friedman game theory Grether imental instructions Isaac JAI Press John Journal of Economic Journal of Political Kagel laboratory environment laboratory experiments Mark Isaac market institution Nash equilibrium nomic nuisance nuisance variables null hypothesis observed outcomes participants payoff periments players Plott Political Economy prediction procedures profits Psychology Public Choice random Rational Expectations reference distribution Reinhard Selten relevant replicate Research in Experimental rewards risk aversion Roth sample Science screen sell sellers session Smith statistics subject pool techniques theoretical trading period transaction treatment variables trials unit University of Arizona Vernon Vernon L