Summer Term 2018

Experimental methods, Lecture and tutorial

Urs Fischbacher (lecture) and Konstantin Hesler (tutorial)

Lecture: Monday, 15:15-16:45
Tutorial: Monday, 17:00-18:30, biweekly

Prüfungseinsicht: Dienstag, 21. Aug. 10-11h
Prüfungseinsicht 2. Termin: Montag, 12. Nov. 11-12h, F315

Experiments have established their own role in economics as a source of knowledge. Experiments allow testing the behavioral assumptions underlying economic modeling; they provide tests for the empirical validity of different models and permit to establish behavioral regularities even when a theory is not yet available. Experiments also guide the researchers in the development of new theories. So, without experiments, prospect theory and social preference theories would be without relevance, since the relevance could not be proven.
This lecture gives an introduction into the experimental method in economics. It should enable you to design, plan, conduct, and analyze an economic experiment. Furthermore, it presents typical and prototypical experimental designs.

Regulations for the Exam

Course Outline

Design and Data Analysis for Experiments

Urs Fischbacher

Experiments have developed to become an established method in economics, in addition to theory and the empirical analysis of field data. Econometrically, experiments have important advantages compared to non experimental data sets. They allow controlling the parameters of the situation, which reduces uncontrolled variance. Most importantly, exogenous treatment variations allow drawing causal conclusions. Nevertheless, there are also econometrical problems typical for experimental data. Data sets are small, variables are often discrete and the interaction in a typical experiment creates dependencies in the data. In this course, I will give an introduction to the experimental method and discuss the econometrical problem typical in the analysis of economic experiments.

25-27.04.2018 TWI

Thurgau Institute of Economics TWI, 3rd floor
Hauptstrasse 90
CH-8280 Kreuzlingen