Introduction to Experimental Economics

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

Part time 6 x 26 = 156
• Lectures 24 h, studying for the exam 60 h, class project 52 h, studying for office hours 20h

Language whose command is required to complete the course

slovak

Date of approval: 11.03.2024

Date of the latest change: 27.01.2022