Cognitive Ability and Observed Behavior in Laboratory Experiments: Implications for Macroeconomic Theory

Nobuyuki Hanaki

No 2019-22, GREDEG Working Papers from Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France

Abstract: This paper discusses the relationships between the \measured" cognitive ability of participants and their behavior as observed during laboratory experiments. Based on such relationships, macroeconomic implications of micro-level "boundedly rational" individual behavior will be discussed. The paper also addresses potential problems that arise when insucient attention is paid to large di erences in the measured cognitive ability of participants across several experimental laboratories, in uencing the replicability of existing experimental results but also the interpretation of results from cross-country experimental analyses, and proposes to complement participants' database with individual characteristics.

Keywords: Cognitive Ability; Laboratory Experiments; Strategic Environment Effect (search for similar items in EconPapers)
JEL-codes: C90 D84 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2019-09
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-neu
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Related works:
Journal Article: Cognitive ability and observed behavior in laboratory experiments: implications for macroeconomic theory (2020)
Working Paper: Cognitive ability and observed behavior in laboratory experiments: implications for macroeconomic theory (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:gre:wpaper:2019-22

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