lectures and readings
Week 1: Introduction: Double Auctions and Markets in the Lab [Quiz #1 October 3, Next Monday]
Holt Chapters 1-2
Friedman Chapter 2 and 8
An Experimental Study of Competitive Market Behavior Vernon L. Smith, Journal of Political Economy, 1962
Week 2: Fundamentals: The Why and How of Experiments [Quiz #2 October 5]
Friedman Chapter 3 and 4
Why And How To Experiment: Methodologies From Experimental Economics Rachel Croson
Experimental Economics: Induced Value Theory Vernon L. Smith, American Economic Review Papers and Proceedings, 1976
Week 3: Uncertainty: Experimental Decision Theory [Quiz #3 October 12]
Holt Chapters 4, 28, 30
Friedman Chapter 14
Choice Under Uncertainty: Problems Solved and Unsovled Mark Machina, Journal of Economic Perspectives, 1987.
Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias Daniel Kahnemann, Jack Knetsch and Richard Thaler, Journal of Economic Perspectives, 1991.
Week 4: Conflict, Coordination and Learning: Game Theory I [Quiz #4 October 19]
Holt Chapters 3, 5
Progress in Behavioral Game Theory Colin Camerer, Journal of Economic Perspectives 1997.
Week 5 Conflict, Coordination and Learning: Game Theory II
Holt Chapters 24, 25, 26
Week 6: Social Preferences: Bargaining Games [Quiz #5 November 2]
Holt Chapters 12, 13, 23
Anomalies: Ultimatums, Dictators and Manners Colin Camerer and Richard Thaler, Journal of Economic Perspetives, 1995.
Hardnose the Dictator Todd Cherry, Peter Frykblom and Jason Shogren, American Economic Review, 2002.
Week 7: Cooperation: Public Goods Games [Quiz #7 November 9]
Holt Chapter 14
Anomalies: Cooperation Robyn Dawes and Richard Thaler, Journal of Economic Perspectives, 1988.
Revisiting Kindness and Confusion in Public Goods Experiments Daniel Houser and Robert Kurzban, American Economic Review, 2002.
Week 8: One Sided Markets: Auctions [Quiz #8 November 16]
Holt Chapters 19, 21
Friedman Chapters 9
Auctions: Experiments John Kagel and Dan Levin, New Palgrave Dictionary of Economics.
Auctions White Paper Alessandra Cassar and Dan Friedman.
Week 9: Experimental Design and Statistics [Quiz #6 November 21, Monday]
Friedman 4-6; look at 7 too
Week 10: Asset Markets [Quiz #9 November 30]
Holt Chapter 11
[Monday, November 28: Meet in EBEL Laboratory (North Hall 2106)]
econ 176
experimental economics
Professor Ryan Oprea, Fall 2016
Economics Department, UC Santa Barbara
http://www.ryanoprea.com/econ176
This course is an introduction to the use of laboratory methods in economics for undergraduates. Much of the course will be a review of some of the more exciting things economists have discovered about markets, human rationality and human sociality through experimental inquiry. However, the course will also cover important methodological tools used in designing, running and making use of experimental data. Throughout the course you will run, participate in and analyze sample classroom experiments, exposing you to a wide variety of experimental designs.
vital information
Schedule: Monday and Wednesday 2:00-3:15 p.m.
Room: Phelp 1160
Office hours: Mon 9:30 a.m.-11:30 a.m., and by appointment
Office: 3028 North Hall
Instructor Email: roprea@gmail.com
required texts
Markets, Games and Strategic Behavior, by Charles Holt, Addison-Wesley, 2006, (relevant chapters available as course reader in bookstore)
Economics Lab: An Intensive Course in Experimental Economics, by Daniel Friedman and Alessandra Cassar, Routledge, 2004.
In addition, much of this class will center around readings posted on this website. These readings are not optional or supplemental but are essential parts of the class. You are expected to read these throughout the course. It is also highly recommended that you skim these readings while finding a topic for your class project.
grading
Final Exam: A final exam (1/3 of your grade).
Reading Quizzes: Weekly reading quizzes and experiment participation (1/3 of your grade).
Group Experiment: An experiment run and analyzed by your group in class (1/3 of your grade).
important dates etc.
September 30: Paper group membership deadline -- Submit groups to me by email
October 3 - November 30: Quizzes and in-class experiments
December 5: Final exam (4-7 p.m.)