Laboratorio: Behavioral and experimental economics
Lab: Behavioral and experimental economics
Anno accademico 2023/2024
- Codice attività didattica
- Gianna Lotito (Titolare del corso)
- Corso di studio
- Laurea in Economia e Statistica per le Organizzazioni - a Torino [0402L31]
- 1° anno, 2° anno, 3° anno
- Secondo semestre
- Altre attività
- SSD attività didattica
- NN/00 - nessun settore scientifico
- Tipologia esame
- Tipologia unità didattica
- A good English language knowledge and basic knowledge of economic principles and quantitative methods, like diagrams, graphs and basic algebra.
Experimental economics is the use of experimental methods to evaluate theoretical predictions of economic behaviour. It uses controlled, scientifically designed experiments by reproducing the relevant economic context in the laboratory and studying the behaviour of properly incentivized subjects.
Data generated under controlled conditions are used to test economic theories, compare alternative theories, search for empirical regularities in behaviour, and formulate and test new theories that can explain them, therefore suggesting new hints to research.
The course aims to introduce students to the theory and practice of experimental methodology and consider some of its applications in various areas of economics and decision theory, with special attention to the behavioural implications on existing models.
Risultati dell'apprendimento attesi
At the end of the course, students should be able to recognize
- which are the more important advantages and limitations of the experimental methodology;
- which are some of the most important discoveries of economics experiments.
- Besides, by actively participating in classroom experiments, students should be able to value the role of the experimental design in building a test of a theory and
- compare experimental results with the theoretical predictions.
- In a brief introductory part we will consider (1) the main reasons to conduct experiments, that is, the main kinds of experiments, in particular experiments as tests of theories and experiments as search for empirical regularities; (2) the reason why experimental economics is important - the use of experimental methods to evaluate theoretical predictions in economics has a fundamental role in bridging the gap between theory and reality; (3) the advantages, costs, and validity of experimental data; (4) the main areas of interest of experimental economics.
- After the introductory part, in each lecture students will participate in a classroom experiment, representing the main areas of interest in experimental economics and, therefore, the main kinds of experiments. The classroom experiments will be run in the laboratory, using the site VeconLab of the University of Virginia, which provides around 60 online programs, each of which allows running a particular type of game or market.
Together with the experiment we will introduce the specific economic problem represented by the experiment, analyze the theoretical model linked to the experiment, and the predictions that the experiment intended to test; then, we will analyze the experimental results and compare them with the theoretical predictions.
Modalità di insegnamento
In each lecture students will participate in a classroom experiment, each representing one of the main areas of interest in experimental economics.
The classroom experiments will be run in the computer lab, using the site VeconLab of the University of Virginia.
Together with the experiment, we will
- introduce the specific economic problem represented by the experiment,
- analyze the theoretical model object of the experiment and the hypotheses that the experiment intended to test,
- analyze the experimental results and compare them with the theoretical predictions.
Modalità di verifica dell'apprendimento
The evaluation will consist of a written test. Details about the final exam structure will be given during the course.
Attività di supporto
There will not be any particular support activities apart from the ones which can be accessed through the course Moodle page
Testi consigliati e bibliografia
- Teaching material will be distributed during the course