Introduction to Experimental Economics
- Credits: 6
- Ending: Examination
- Range: 24sP
- Semester: summer
- Year: 4
- 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
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: 06.02.2023
Date of the latest change: 27.01.2022