00:01    |    
Initial credits
00:21    |    
Introduction
00:40    |    
What is the importance of experimental economics in the economic theory?
03:19    |    
Do you think experimental economics can be used as a predictive tool?
Iowa electronic market
08:05    |    
How do experimental economics relate to Friedrich A. Hayek's philosophy?
12:54    |    
What is the origin of economic bubbles?
Laboratory results
18:33    |    
What areas have a promising future in this type of research?
23:17    |    
Final words
23:24    |    
Final credits



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Discussing Experimental Economics with Vernon Smith

19 de junio de 2010   | Vistas: 124 |  

Fritz Thomas interviews Vernon L. Smith regarding the role that experimental economics play within the economic theory.  Smith describes how these observation exercises contribute to a better understanding of the economic phenomena, as well as how such experiments are useful to predict market behaviors and their main structures.  He elaborates on how these economic trials relate to the philosophy of the Austrian School of Economics.  Finally Smith explains, based on his research, the causes of economic bubbles in markets and how they emerge from specific monetary policies imposed by central authorities.




Vernon L. Smith was awarded the 2002 Nobel Prize in Economics for his introducing experimental methods in economic analysis. He…

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Universidad Francisco Marroquín