00:00    |    
Initial credits
00:06    |    
Introduction by Daniel Houser
00:45    |    
Economics in the laboratory
00:50    |    
Vernon Smith's experimental economics
01:26    |    
Ingredients of an experiment
Environment
Message space
Institutions
03:33    |    
Experiment mapping process
04:19    |    
Role of the experimenter
04:51    |    
Reasons to perform experiments
Institutional comparative process
06:22    |    
Nobel Prize awarded to Vernon Smith
07:11    |    
Importance of institutional rules
How does Vernon Smith define institutions?
09:35    |    
Significance of institutions
Dynamic auction against posted offer
Institutions matter
13:40    |    
Experimental theory testing
14:37    |    
Duhem-Quine thesis
Vernon Smith's view on the thesis
18:18    |    
Flat maximum
Glenn Harrison's thesis
Vernon L. Smith and James M. Walker's thesis
21:45    |    
Causes of a theory's failure
22:14    |    
Empirical regularities
22:46    |    
Double-auction experiments
23:31    |    
Policy proposal evaluation
24:06    |    
Anticipation of opportunity costs
26:33    |    
Financial incentives
Machiavellian tendencies
Monetary incentives
33:30    |    
Reward structure design
34:52    |    
Motivations to participate in experiments
Ultimatum games result
Experimenter demand effects
39:36    |    
Use of neutral language
40:11    |    
Personal exchange experiments
41:30    |    
Helpfulness of incentives
42:35    |    
Trolley experiment
Pattern of results
Plausible deniability
Ming Hsu's study on the consequences of a trolley-type problem
52:35    |    
Importance of instructions
Linear public goods game
Nash equilibrium
Accurate comprehension of instructions
Dictator game example
01:01:38    |    
Deception
What do you mean by deception?
How can you study deception?
Effects of lying in the experiment's perception
Study of the impact of deception on subject pools
Case-by-case deception
Relationship between fairness and cheating
01:10:09    |    
Internal review boards (IRB)
Greg Burns' study on the dog brain
What does IRB stand for?
What type of members does an IRB have?
01:14:52    |    
Methodological issues of an experiment
Gary Becker's remarks on controlled environments
Parallelism in the decision taking process
Study on dictator game experiment  Determinants of a individual's decision
Quotes,  Behavioral Game Theory: Experiments in Strategic Interaction, Colin Camerer
01:26:10    |    
Final words
01:26:19    |    
Final credits



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Experimental Methods (Part I) Economics in the Laboratory

23 de octubre de 2012   | Vistas: 8 |   Experimental Economics Incentives Institutions

As economics become a science that continuously explains and predicts human action and interaction, Daniel Houser sets the foundational principles of economic experiments, sharing the situations that take place in a laboratory when trials are being carried out.

He shares basic elements that must be present in the process, such as environments, outcomes, information, messages, and production; and also tells about the different types of experiments that can be performed, about the role of the experimenter to control and observe, the significance of incentives and the fact that credibility and extrapolation are questioned in the trials.

Houser comments on how laboratory experiments make the study of complex environments feasible; nevertheless, states that they differ from the actions taken within a natural setting, establishing though, that the process by which decisions are made, should be the same in both surroundings.




Daniel Houser is chairman of the Department of Economics and director of the Interdisciplinary Center for Economic Science (ICES) at…

IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín