AEM 7140 - Experimental Economics

Fall. Offered alternate years. 4 credits. Letter grades only.

Prerequisite: ECON 6090.

W. D. Schulze.

Surveys both experimental economics methods and research as an approach to test economic theory. Students participate as subjects in a series of illustrative computerized experiments ranging from double auctions to public goods provision. Topics include experimental methods; decisions and games; markets (testing auction institutions); market power (monopoly, oligopoly); bargaining, compensation, and performance; public goods; externalities and voting; information and uncertainty; and economic anomalies. Students must design and write a paper describing their own experiment.