Introduction to Experimental Economics (Principles, Methods, Applications)

Author: Ge Xinquan, Wang Guocheng
Publisher:
Publish Date: 2006-09-01
Features: Experimental economics is the discipline that applies experimental research methods to explore the motivations, rules, and effects of human decision-making behavior. It rapidly rose and flourished in the latter half of the 20th century and has recently become one of the most active branches and cutting-edge fields in economic theory. The Nobel Prize in Economics for 2002 was awarded to experimental economists and behavioral economists, acknowledging the direction of applying experimental methods and psychological principles to economic theory research, as well as the significant breakthrough it represents in the neoclassical economic theory framework. The impact and challenges thus created have become one of the notable characteristics of the development of contemporary economics.