Home » Developments on Experimental Economics: New Approaches to Solving Real-World Problems by Sobei Hidenori Oda
Developments on Experimental Economics: New Approaches to Solving Real-World Problems Sobei Hidenori Oda

Developments on Experimental Economics: New Approaches to Solving Real-World Problems

Sobei Hidenori Oda

Published August 1st 2007
ISBN : 9783540686590
Paperback
264 pages
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 About the Book 

This volume presents papers and speeches given in the Experimental E- nomics Week in Honour of Dr Vernon L. Smith held in Okayama and Kyoto, 13-17 December 2004, which consisted of Dr Smith s public speech and the International Conference onMoreThis volume presents papers and speeches given in the Experimental E- nomics Week in Honour of Dr Vernon L. Smith held in Okayama and Kyoto, 13-17 December 2004, which consisted of Dr Smith s public speech and the International Conference on Experiments in Economic Sciences: New - proaches to Solving Real-world Problems. Despite having a short history, experiments are now considered indispensable in economics as in other ?elds of science and engineering. As Dr Smith s Nobel Prize (2002) shows, experimental economics has now established itself in modern economics. In such an environment, researchers are expected to developthetraditionwithnewideasinnew?eldsforsolvingvariousproblems in the real world. The Experimental Economics Week, which was organised to explore new ?elds for experiments with new approaches, provided a unique opportunity for those who were engaged or interested in experiments in their ?elds to discuss experimental approaches from various standpoints. Economic experiments broaden and deepen our understanding of human - haviour, the economy and their interdependence. Some experiments are - signed to observe how people behave. Experimenters control subjects e- nomic environment to guess their strategies, which are not always apparent in the real world. The environment may be game-theoretic (a person s gain or loss is a?ected by other persons actions) or non-game-theoretic. In either case what is checked is subjects behaviour. Some experiments are done to see how market or other economic systems work.