EC4506: Experiments in Economics

joint with Shane Bonetti

EC4506 at the School of Economics and Finance

Timetable

6.+7.2.

Experimental Methods and Issues

13.+14.2.

Individual choice, risk

20.+21.2.

Public goods, free riding, the voluntary contribution mechanism

27.+28.2.

Ultimatum Bargaining Games

6.+7.3.

Bargaining Behaviour

13.3.

Entrapment and Escalation

14.+20.3.

Markets and Auctions

21.3.+10.4.

Experimental Design & Ethics

18.4.

Deadline essay submission

Essay questions:

There are four essay questions. Two questions are shown here and two questions will be presented by Shane Bonetti in the lecture. To make sure that not all students choose the same question, send an email with your ranking of questions to Shane Bonetti.

You are supposed to find the relevant literature for your question, to decide what is important and what is not important, and to organise the material in a clear and concise way (1500 words).

1. Discuss: Is it wise to assume von Neumann and Morgenstern preferences in economic models?
2. Discuss the advantages and disadvantages of using deception in economic experiments.

Literature:

• J. H. Kagel and A. E. Roth, The Handbook of Experimental Economics, Princeton University Press, 1995.
• Daniel Friedman, Shyam Sunder, Experimental Methods: A Primer for Economists, Cambridge Univ Press, 1994
• Douglas D. Davis and Charles A. Holt, Experimental Economics, Princeton University Press, 1992.