Experimental Economics

Recommended Prerequisites

Microeconomics, statistics, econometrics

Teaching Methods

All the classes will have both a theoretical and a practical component, allowing a flexible mix between periods of exposition of the topics and periods of interaction with the students while they do exercises. In particular, during the classes we will use software to analyze the results of experiments and apply econometric procedures. There will also be time allocated to presentations by the students.

Learning Outcomes

1) discuss the problems of identifying causality and testing economic theories

2) present the experimental approach in economics

3) identify advantages and disadvantages of the experimental approach

4) present some of the important results in the field of experimental economics

5) identify key aspects of designing and running experiments and evaluate the adequacy of an experimental design

6) analyze the results of experiments and apply appropriate econometric methods to the study of causality

Work Placement(s)

No

Syllabus

1. Why study experimental economics

1.1. The problems of identifying causality and testing economic theories

1.2. The experimental approach

2. Experiments in economics

2.1. Behavioural economics

2.2. Designing and running experiments

2.3. Case studies

3. Econometric methods

Head Lecturer(s)

Pedro Miguel Avelino Bação

Assessment Methods

Assessment
Periodic or by final exam as given in the course information: 100.0%

Bibliography

Angrist, J.; Pischke, J.-S. (2014). Mastering 'metrics. Princeton University Press.

Bardsley, N.; Cubitt, R.; Loomes, G.; Moffatt, P.; Starmer, C.; Sugden, R. (2010). Experimental Economics: Rethinking the Rules. Princeton University Press.

Cunningham, S. (2021). Causal Inference - The Mixtape. Yale University Press.

Gerber, A.S.; Green, D.P. (2012). Field Experiments. W.W. Norton&Co.

Glennerster, R.; Takavarasha, K. (2013). Running randomized evaluations. Princeton University Press.

Holt, C.A. (2019). Markets, games and strategic behavior. Princeton University Press.

Imbens, G.W.; Rubin, D.B. (2015). Causal inference for Statistics, Social, and Biomedical Sciences. Cambridge University Press.

Jacquemet, N.; L'Haridon, O. (2018). Experimental Economics: Method and Applications. Cambridge University Press.

Moffatt, P. (2016). Experimetrics. Red Globe Press.

Wilkinson, N.; Klaes, M. (2017). An Introduction to Behavioral Economics. Palgrave.