2023/2024
Экспериментальная экономикa
Статус:
Маго-лего
Кто читает:
Департамент теоретической экономики
Когда читается:
3 модуль
Охват аудитории:
для своего кампуса
Преподаватели:
Саху Собхагья
Язык:
английский
Кредиты:
3
Контактные часы:
36
Course Syllabus
Abstract
Experimental economics is a field of economics that aims to study economic behaviors by conducting controlled experiments. It involves setting up a controlled environment to observe how individuals behave under specific conditions and then using this information to test economic theories. Researchers and policymakers can benefit from the findings of experimental economics studies by gaining a deeper understanding of human decision-making, market dynamics, and policy formulation. This course prioritizes student-led paper presentations and discussions, structured into two segments. First, it focuses on methodological foundations, including experimental design (lab, field, and natural experiments), ethical considerations, randomization techniques, and data analysis. Second, it examines applications of experiments to study preferences, market dynamics, and discrimination, with case studies on policy-relevant topics such as nudges, market interventions, and behavioral insights in institutional design. Students will develop skills in designing, critiquing, and replicating experiments while engaging with both foundational and contemporary research, preparing them to contribute to academic inquiry and evidence-based policy solutions.
Learning Objectives
- Understand the principles and methodologies of experimental economics
- Develop proficiency in designing, implementing, and analyzing controlled experiments
- Critically evaluate experimental studies
- Explain how experimental methods have contributed to economics.
- Explain the overall importance of field experiments to the discipline of economics.
Expected Learning Outcomes
- Correlation vs. causation
- Challenge of causal identification in social sciences
- Selection bias and Randomization
- Internal and external validity
- Behavioral development economics
- Distinguish normative theory from behavioral economics in explaining economic decisions.
- Trace the historical development of experimental methods, from game theory foundations to modern applications.
- Evaluate the roles of internal and external validity in designing and interpreting experiments.
- Apply the induced value method to design incentive-compatible experiments (monotonicity, salience, dominance).
- Assess trade-offs in subject selection, including student pools, cultural diversity, and the rejection of deception.
- Mitigate experimenter demand effects through neutral framing, double-blind protocols, and careful instruction design.
- Choose appropriate experimental designs (within- vs. between-subject, real-effort tasks) based on research questions and validity concerns.
Assessment Elements
- Group presentationThis course is designed to function primarily as a seminar. This approach means there will be minimal lectures, with a greater emphasis on student-led discussions based on assigned readings. A high level of student participation in class is expected. Class time will be dedicated to clarifying and deepening the understanding of the assigned papers and to discuss significant issues. Each group, consisting of three students, will select a specific paper from a provided list and present it in class. The 60-minute presentation should include (1) an overview of the relevant literature, and (2) a detailed discussion of the chosen paper, including its main idea, experimental design, and key findings.
- Term paperEach student is required to submit a term paper by 24th March 2023. The term paper should include: (1) A literature review. (2) A comprehensive review of the presented paper. (3) A proposal for a follow-up or new experiment related to the paper's topic. Note: The term paper must be written independently by each student. Group members should avoid copying from each other and should design unique experiment proposals. You must submit your term paper over Smart LMS and you need not email the same.
- Mid-term examinationThe mid-term exam will cover all the lectures and the class presentations up to the date of the examination. Date of mid-term examination: 22nd February 2024
Interim Assessment
- 2023/2024 3rd module0.3 * Mid-term examination + 0.4 * Group presentation + 0.3 * Term paper
Bibliography
Recommended Core Bibliography
- An introduction to behavioral economics, Wilkinson, N., 2012
- Duflo, E., & Banerjee, A. (2017). Handbook of Field Experiments. Amsterdam, Netherlands: North Holland. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1145037
- Methods in experimental economics : an introduction, Weimann, J., 2019
- Mostly harmless econometrics : an empiricist's companion, Angrist, J. D., 2009
Recommended Additional Bibliography
- Mastering 'Metrics : the path from cause to effect, Angrist, J. D., 2015
- Nudge : improving decisions about health, wealth and happiness, Thaler, R. H., 2009
- The handbook of experimental economics, , 1995
- The handbook of experimental economics. Vol.2: ., , 2015