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Developments on Experimental Economics

New Approaches to Solving Real-world Problems

  • Book
  • © 2007

Overview

Editors:
  1. Sobei Hidenori Oda

    1. Faculty of Economics, Kyoto Sangyo University, Kyoto, Japan

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Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 590)

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Table of contents (29 chapters)

  1. Front Matter

    Pages I-XII
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  3. The Past and Future of Economic Experiments

    1. Front Matter

      Pages 33-33
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    2. Behavioral Decision Making at 50: Achievements, Prospects, and Challenges

      • Robin M. Hogarth
      Pages 35-58

    3. On the Weighting of Rare Events and the Economics of Small Decisions

      • Ido Erev
      Pages 59-73

    4. Trust, Fear, Reciprocity, and Altruism: Theory and Experiment

      • James C. Cox
      Pages 75-90

    5. What Have We Learned From Experimental Finance?

      • Shyam Sunder
      Pages 91-100

    6. Cheating in Markets: A Methodological Exploration

      • Daniel Friedman
      Pages 101-118

    7. Design Science: A Prelude

      • Tatsuyoshi Saijo
      Pages 119-127

  4. Non Game-Theoretic Individual Decision Making

    1. Front Matter

      Pages 129-129
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    2. Separation of Intertemporal Substitution and Time Preference Rate From Risk Aversion: Experimental Analysis With Reward Designs

      • Ryoko Wada, Sobei H. Oda
      Pages 131-136

    3. Signal Qualities, Order of Decisions, and Informational Cascades: Experimental Evidences

      • Sunichiro Sasaki
      Pages 137-142

    4. WTP and WTA for Expressway Services

      • Metin Senbil, Ryuichi Kitamura
      Pages 143-148

    5. Judgement in Small Decision-Making Problems

      • Takemi Fujikawa, Sobei H. Oda
      Pages 149-154
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Keywords

About this 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 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.

Editors and Affiliations

  • Faculty of Economics, Kyoto Sangyo University, Kyoto, Japan

    Sobei Hidenori Oda

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