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 2002 Nobel Prize in Economic Sciences was awarded to experimental economists and behavioral economists, acknowledging the direction of applying experimental methods and psychological principles to economic theory research. This approach represents a significant breakthrough in the neoclassical economic theory framework, creating impacts and challenges that have become a notable feature of contemporary economic development.