Experimental Economics

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Dictionary Says

Definition of 'Experimental Economics'

A branch of economics that focuses on individual behavior in a controlled laboratory setting or out in the field. Experimental economics helps to prove or disprove economic theories and create predictions and insights about real-world behavior.
Investopedia Says

Investopedia explains 'Experimental Economics'

2002 Nobel laureate Vernon Smith was a pioneer in the field of experimental economics. His early experiments focused on theoretical equilibrium prices and how they compared to real-world equilibrium prices. Smith also conducted experiments to test theoretical assumptions about different types of auctions, allocating airport time slots and organizing energy markets. Smith’s economics experiments were groundbreaking in part because it had previously been assumed that economic research could only be based on real-world observations and data. His work set the standard for good economics experimentation.
Search results for

'Experimental Economics'

  • The Uncertainty Of Economics: Exploring The Dismal Science

    http://www.investopedia.com/articles/basics/03/071103.asp
    ... method.) Economics, like science, aims to explain certain phenomenon, but for many
    reasons economics cannot fulfill the criteria of the experimental model. ...

  • The Greatest Investors: David Dreman | Investopedia

    http://www.investopedia.com/university/greatest/daviddreman.asp
    ... International Foundation for Research in Experimental Economics (IFREE); Dreman
    Value Management, LLC. Most Famous For: David Dreman's ...

  • The History Of Economic Thought

    http://www.investopedia.com/articles/economics/08/economic-thought.asp
    ... paradigm. It is nearly impossible to expose an economy to experimental rigor,
    therefore, economics is on the edge of science. Through ...

  • Series 63, Series 65 Or Series 66?

    http://www.investopedia.com/articles/professionaleducation/07/63_65_66.asp
    ... Like the Series 63, the Series 65 exam has experimental questions that will ... Series
    65 exam includes questions on the subjects of economics, investment vehicles ...

  • Health Insurance: Paying For Pre-Existing Conditions

    http://www.investopedia.com/articles/pf/09/covering-medical-costs.asp
    ... The words "pre-existing condition" and "experimental procedure" are often bad news
    for sick patients in the US because in many circumstances, health insurance ...

  • Breaking Down Financial Securities Licenses

    http://www.investopedia.com/articles/financialcareers/07/securities_licenses.asp
    ... This test also contains some experimental questions that the NASAA uses ... advisors,
    but also various investment vehicles and disciplines, economics, ethics and ...

  • Using DCF In Biotech Valuation

    http://www.investopedia.com/articles/stocks/06/BiotechValuation.asp
    ... Portfolio Valuation Approach Think of a biotech company as a collection of one or
    more experimental drugs, each representing a potential market opportunity. ...

  • Tips For Passing The Series 6 Exam

    http://www.investopedia.com/articles/professionaleducation/07/Series_6.asp
    ... Within the 100 exam questions, candidates are also given five "experimental" or
    "pilot" questions, which are not identified and will not count toward the ...

  • Energy Misconceptions

    http://stocks.investopedia.com/stock-analysis/2011/Energy-Misconceptions-TOT-HAL-BP-SFY0927.aspx
    Horizontal drilling and hydraulic fracturing are seen by many as new technologies
    that are somewhat experimental, but that's far from the truth.

  • An Introduction To Consensus Indicators

    http://www.investopedia.com/articles/trading/02/111802.asp
    ... the current research in social sciences is attempting to bring psychology more in
    line with mathematics for the precision that it gives to experimental methods ...

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