This workbook aims to get students involved with and excited about economic concepts. Based on the interactive classroom trend in economics education, the text includes 13 experiments, each designed to teach a major topic by encouraging active student participation. Each experiment involves the student in reading an introduction, collecting data and filling out a laboratory report, discussing findings, and completing coursework designed to reinforce key concepts. Learning objectives, worked examples, self-test exercises, and a key terms list are also included.
This book contains economic experiments designed for students who have not previously taken any economics. While this book can supplement any microeconomics text, it can and has been used by itself to teach principles. Unique in the marketplace, EXPERIMENTS WITH ECONOMIC PRINCIPLES: MICROECONOMICS is an extension of the groundbreaking work in Experimental Economics of Vernon Smith. Bergstrom and Miller are two of the most highly-regarded researchers in the creative world of Experimental Economics. FEATURES 1. A new chapter on public goods (ch. 6). 2. A new chapter on network externalities (ch. 9). 3. A new Part V on essential concepts of economic principles. 4. More problems and tie-ins to economics in the news. 5. More discussion of economic concepts. 6. More modular organization for easy custom-publishing of instructor's own selection of experiments. 7. Streamlining some experiments. 8. Improved layout of homework exercises allows faster grading. 9. Improved layout of personal information sheets in Instructor's Manual. 10. Convenient class preparation kits for instructors. Go to the text website for more information on Bergstrom/Miller Experiments with Economic Principles: http://www.econ.ucsb.edu/~tedb/eep/eep.html
This book provides an easy to follow guide to economic experiments and specifically those that explore notions of fairness, altruism and trust in economic transactions and how findings in the field can change the way we approach a variety of economic problems.
While the field of economics makes sharp distinctions and produces precise theory, the work of experimental economics sometimes appears blurred and may produce uncertain results. The contributors to this volume have provided brief notes describing specific experimental results.
Game theory, the formalized study of strategy, began in the 1940s by asking how emotionless geniuses should play games, but ignored until recently how average people with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose. Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life. While there are many books on standard game theory that address the way ideally rational actors operate, Behavioral Game Theory stands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.
Over the past two decades, experimental economics has moved from a fringe activity to become a standard tool for empirical research. With experimental economics now regarded as part of the basic tool-kit for applied economics, this book demonstrates how controlled experiments can be a useful in providing evidence relevant to economic research. Professors Jacquemet and L'Haridon take the standard model in applied econometrics as a basis to the methodology of controlled experiments. Methodological discussions are illustrated with standard experimental results. This book provides future experimental practitioners with the means to construct experiments that fit their research question, and new comers with an understanding of the strengths and weaknesses of controlled experiments. Graduate students and academic researchers working in the field of experimental economics will be able to learn how to undertake, understand and criticise empirical research based on lab experiments, and refer to specific experiments, results or designs completed with case study applications.
