D'Adam Smith à Vernon L.Smith la main invisible observée à travers les comportements expérimentaux

Jean-Louis Rullière ()

Revue d'économie politique, 2003, vol. 113, issue 3, 309-321

Abstract: Not long ago, economics has been grounded on the hypothesis that the economic behavior is only motivated by the self-interest. As a consequence, it is very easy to accept this assumption, specially if economics is considered as a non-experimental science. During the two last decades, this point of view has changed dramatically. Vernon L.Smith is largely responsible for standing the experimental economics as a well-established force in the academic community of economists. His seminal papers provided the community with a set of tools which rule the experimental methodology in economics. The ability to test economic theory is applicable to a wide range of marketplaces. In addition, Vernon L. Smith designed laboratory experiments as a ?wind tunnel?, where alternative policies can be tested before their implementation. Therefore the experimental method becomes highly valuable for assessing the performance of policies that would otherwise be evaluated solely on the basis of theoretical considerations.

Keywords: experimental economics; market design (search for similar items in EconPapers)
Date: 2003
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