What This Document Is
This handout serves as an introductory overview to the field of Experimental Economics, specifically tailored for a graduate-level course. It lays the groundwork for understanding how economists utilize experiments to rigorously test established theories and uncover new insights into human behavior. The focus is on outlining the core motivations and broad categories within experimental economics research. It’s designed to provide a foundational understanding of the discipline’s approach to economic inquiry.
Why This Document Matters
This material is essential for students enrolled in advanced economics courses, particularly those specializing in behavioral or microeconomic theory. It’s most beneficial at the *beginning* of a course on experimental economics, providing context for subsequent, more detailed explorations of specific experimental designs and findings. Researchers interested in employing experimental methods will also find this a useful starting point for understanding the scope and purpose of the field. If you’re seeking a high-level understanding of how economic principles are validated – and sometimes challenged – through controlled experimentation, this is a crucial resource.
Common Limitations or Challenges
This handout is an introductory overview and does *not* delve into the specifics of experimental design, data analysis techniques, or detailed mathematical models. It will not provide step-by-step instructions for conducting experiments, nor does it present specific experimental results. It also doesn’t offer comprehensive coverage of all alternative theories; rather, it points towards areas where existing theory has been found to deviate from observed behavior. Access to the full material is required for in-depth exploration of these topics.
What This Document Provides
* A clear articulation of the primary objectives driving research in Experimental Economics.
* A categorization of the major “families” of experiments conducted within the field.
* An overview of areas where established economic theories have encountered challenges when tested experimentally.
* Identification of key areas of investigation, including individual decision-making, game theory, and market dynamics.
* Signposting to further resources that explore theoretical foundations and observed departures from rational choice.