Experimental Economics

Douglas D. Davis, Charles A. Holt

• Publisher: Princeton University Press
• Year: 2021
• Print ISBN: 9780691043173
• eBook ISBN: 9780691233376
• Topic: Economics
• Subtopic: Economic Theory
• Index: Economics

A small but increasing number of economists have begun to use laboratory experiments to evaluate economic propositions under carefully controlled conditions. Experimental Economics is the first comprehensive treatment of this rapidly growing area of research. While the book acknowledges that laboratory experiments are no panacea, it argues cogently for their effectiveness in selected situations. Covering methodological and procedural issues as well as theory, Experimental Economics is not only a textbook but also a useful introduction to laboratory methods for professional economists.


Although the authors present some new material, their emphasis is on organizing and evaluating existing results. The book can be used as an anchoring device for a course at either the graduate or advanced undergraduate level. Applications include financial market experiments, oligopoly price competition, auctions, bargaining, provision of public goods, experimental games, and decision making under uncertainty. The book also contains instructions for a variety of laboratory experiments.

Table of contents

• Cover Page
• Half-title Page
• Title Page
• Copyright Page
• Contents
• Preface
• Acknowledgments
• 1. Introduction and Overview
• 2. Decisions and Games
• 3. Double-Auction Markets
• 4. Posted-Offer Markets
• 5. Bargaining and Auctions
• 6. Public Goods, Externalities, and Voting
• 7. Asymmetric Information
• 8. Individual Decisions in Risky Situations
• 9. Economic Behavior and Experimental Methods: Summary and Extensions
• Index