Experimental Economics: Introduction  

Oleh:

Loomes, Graham

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 109 no. 453 (Feb. 1999), page 1-4.
Fulltext: 1.pdf (66.85KB)

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Someone trying to organise an experimental economics contribution to the `Controversy' series faces two problems. The ®rst and less troubling problem is the potential scope of the subject. Although there are some aspects of economics that do not appear to be amenable to experimental investigation, many areas of fundamental importance have been the subject of experiments. The chapter headings of Kagel and Roth's (1995) 721-page Handbook of Experimental Economics testi®es to this: public goods, co-ordination problems, bargaining, a host of market institutions, and individual decision making are all areas which have attracted a substantial amount of experimental attention, the results of which have been deemed signi®cant enough to appear quite regularly in all of the mainstream economics journals, and in many more specialist outlets. However, this problem of scope is relatively easily solved by specifying a more restricted target area. In the case of the current Controversy, the solution has been to focus attention primarily on individual behaviour, either in games against nature or else in games against other individuals. Although experiments examining different market institutions have played a substantial role in the history of experimental economics ± and are by no means uncontroversial ± the issues they raise are only touched on relatively lightly in the contributions below.

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