PREREQUISITES: ECON-UA 10 OR ECON-UA 9010 OR ECON-UA 11 OR ECON-UB 11 OR ECON-UB 1. ALL WITH A MINIMUM GRADE OF C. SAME AS ECON-UB 360.
Experimental economics is predicated on the belief that economics, like other sciences, can be a laboratory science where economic theories are tested, rejected, and revised. This course reviews the methodology of doing such laboratory experiments and investigates the use of experiments in a wide variety of fields. These include competitive markets, auctions, public goods theory, labor economics, game theory, and individual choice theory. The course functions as a research seminar in which students present their work as it progresses during the semester. Students also get exposure to the experimental laboratory in the Department of Economics and the research performed there.