Learning Outcomes:
On successful completion of this module students will have:
- Obtained detailed knowledge of experimental methods in economics and of good scientific practices for conducting economics experiments.
- Developed a thorough understanding of advantages and limitations of laboratory experiments.
Indicative Module Content:
The focus of the module is on the methodology of economics experiments. The course will cover the following topics.
- Methodology: Principles of economics experiments. Types of experiments. Experimental design. The scientific method. Hypotheses testing.
- Best practices: Incentives. Sample size. Pre-registering. Replication.
- Practicalities: Participants. Laboratories. Software. Conducting an experiment.
- Data analysis: Experimetrics. Regressions and non-parametric statistical tests.
- Some applications: Individual decision making. Strategic interaction. Markets.