For the last 15 years, economist Kay-Yut Chen has been quietly toiling away in Hewlett-Packard's labs, running experiments mostly on nearby Stanford students to help determine such things as the best ...

Despite an abundance of strong economic theory compiled over the decades, it’s still notoriously difficult to predict what economic systems will do. That’s because the economy is driven by an ...

Nearly 400 years ago Galileo performed the first recorded laboratory experiment, timing balls as they rolled down an inclined plane to test his theory of acceleration. Since that time, laboratory ...

Two Americans have been awarded this year’s Nobel in economic science for separate work that brought experimental methods to bear on economic behavior. Daniel Kahneman, of Princeton University, and ...

Using the scientific process of laboratory control and replication to study the critical causal relationships of economic behavior and to design improved policy, markets, and products that benefit ...

Nobel laureate economist Vernon Smith spent three years at the University of Alaska Anchorage late in his career, and UAA has now named the centerpiece of its experimental economics program after him.

Economic theory is often tested using data from natural markets. In many cases, clear conclusions about theoretical propositions can be drawn by observing naturally occurring data. At other times, ...

Nobel Prize-winning economist Vernon Smith was in Australia last week to lecture at the Macquarie Graduate School of Management in Sydney. In addition to his academic obligations, he caused a minor ...

University research labs are very common in science, technology, engineering, and math (STEM) and related fields. Those labs serve an important purpose for faculty and students. Students learn ...

Next spring, Alaska and Norwegian college students will participate in an educational pilot program that explores shared management of Arctic resources. This "proof-of-concept" eventually will shape ...

Experimental economics is a sub‐discipline that employs controlled laboratory and field settings to investigate economic behaviour, test theoretical predictions, and inform policy. By designing ...

Experimental economics is the use of experimental methods to evaluate theoretical predictions of economic behaviour. It uses controlled, scientifically-designed experiments to test economic theories ...