Introduction to Experimental Economics
- Credits: 6
- Ending: Examination
- Range: 2P + 2C
- Semester: summer
- Year: 3
- Faculty of Economics and Finance
Teachers
Included in study programs
Teaching results
Understanding
Distinguishing between causality and correlation
Competence
Critical thinking, identification of alternative explanations of a particular economic phenomenon, ability to ask a research question
Skills
Designing an experiment to answer a research question
Indicative content
Experimental economics precepts: Nonsatiation, saliency, parallelism, privacy, dominance Anonymity – the importance of anonymity for collecting data in economics experiments
Generosity – evidence of other-regarding behavior
Trust – an inherent feature present in any economic transaction
Reciprocity in economic decisions – repaying kind actions with kindness and punishing hostile actions
Gift Exchange and Contract – applications of reciprocity in contract enforcement
Psychological Games – extension of traditional game theoretic models to allow for modeling of unobservable motives
Group Identity and group decision making
Competition – driver of efficiency
Markets, market institutions, and market behavior
Support literature
Experimental Methods – A Primer for Economists by Daniel Friedman and Shyam Sunder, Cambridge University Press 2004
Requirements to complete the course
20% class exercise: specifying a research question
80% exam
- 40% class project: The primary focus of the course is on applying experimental methods, which can only be done through a project,
- 40% written exam
Student workload
• Lectures 52 h, tutorials + experiment 26 h, class exercise 6 h, studying for the exam 36 h, class project 36 h
Language whose command is required to complete the course
slovak
Date of approval: 06.02.2023
Date of the latest change: 27.01.2022