Experimental Economics

2021/2022

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered by:

Department of Applied Economics

Type:

Compulsory course

When:

1 year, 3 module

Instructor

Evdokimov, Pyotr

Course Syllabus

Abstract

Experiments are used by economists to study a variety of topics, from testing theories of learning to studying economic preferences and the functioning of markets. This course will explore the role of experiments in testing theories of strategic and social behavior (i.e., game theory). We will cover such topics as Nash Equilibrium, rationality, higher-order thinking, altruism, cooperation, repeated interactions, and the role of communication in promoting coordination and efficiency. For each topic we study, we will review the necessary theoretical background and then see well game-theoretic predictions fare in laboratory. We will also read recent search papers and learn how to set up our own experiments and analyze the data.

Learning Objectives

• The course is designed to: 1. Give you an overview of what we can learn from game theory experiments; 2. Teach you how to read and discuss research papers; 3. Challenge you to come up with your own ideas.

Course Contents

• Rationality and higher-order thinking
• Equilibrium and coordination
• Dynamic games
• Prosocial behavior

Assessment Elements

• Midterm
• Participation in class experiments
• Presentation
• Final project

Interim Assessment

• 2021/2022 3rd module
  0.2 * Presentation + 0.3 * Midterm + 0.3 * Final project + 0.2 * Participation in class experiments

Bibliography

Recommended Core Bibliography

• Behavioral game theory: experiments in strategic interaction, Camerer, C.F., 2003
• Markets, games, and strategic behavior : an introduction to experimental economics, Holt, C. A., 2019

Presentation

• Syllabus