Experimental Methods for the General Economist: Five lessons from the Lab

Douglas Davis

No 1601, Working Papers from VCU School of Business, Department of Economics

Abstract: I review a series five primary results from experimental economics that impact on the economics profession as a whole. These results regard the relative (un)importance of subject sophistication in laboratory markets, the importance of gender on economic outcomes, the propensity for humans to behave in less than fully rational ways, the importance of trading institutions on economic performance and the behavioral relevance of economic theory. In overview, I find that economics as a profession has benefited from the use of experimental methods by fostering a dialogue between theorists and empiricists, better informing policy and improving data collection techniques.

Pages: 19 pages
Date: 2016-01
New Economics Papers: this item is included in nep-exp and nep-hpe
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Citations: View citations in EconPapers (2)

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Journal Article: Experimental Methods for the General Economist: Five Lessons from the Lab (2016)
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