What is Experimental Economics
In the field of economics, experimental economics refers to the analysis of economic topics through the use of experimental methodologies. During experiments, data are collected with the purpose of estimating the size of the effect, determining whether or not economic theories are valid, and shedding light on market mechanisms. In economic experiments, the volunteers are typically motivated with cash in order to simulate the incentives that are seen in the real world. In order to gain a better understanding of how and why markets and other exchange systems operate in the manner that they do, experiments are utilized. In addition, the field of experimental economics has grown to include the study of institutions and the law.
How you will benefit
(I) Insights, and validations about the following topics:
Chapter 1: Experimental economics
Chapter 2: Game theory
Chapter 3: Vernon L. Smith
Chapter 4: Behavioral economics
Chapter 5: Competition
Chapter 6: Contract theory
Chapter 7: Centipede game
Chapter 8: Information economics
Chapter 9: Computational economics
Chapter 10: Personnel economics
Chapter 11: Charles Plott
Chapter 12: Experimental finance
Chapter 13: Quantal response equilibrium
Chapter 14: R. Mark Isaac
Chapter 15: Agent-based computational economics
Chapter 16: Algorithmic game theory
Chapter 17: Alvin E. Roth
Chapter 18: Mathematical economics
Chapter 19: Social preferences
Chapter 20: Behavioral game theory
Chapter 21: Gift-exchange game
(II) Answering the public top questions about experimental economics.
(III) Real world examples for the usage of experimental economics in many fields.
Who will benefit
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of experimental economics.
