WiSe 22/23

Course description

This modular course provides students with the main insights into the methodology of economic experiments. Students will learn how economic experiments can help identify causal effects (via randomization) and thereby complement and advance other empirical methods.

We will discuss the different purposes of economic experiments as well as different types of economic experiments. Most emphasis is put on how to design economic experiments (e.g., within- vs. between-subjects designs, how and what to measure, how and on what level to randomize on, how to avoid potential selection or attrition, how to write instructions for lab and online experiments, etc.).

In different modules, we will discuss the measurement of preferences (e.g., risk, time, and social preferences), beliefs, and actions, and shed light on important methodological aspects (such as the use of multiple price lists, convex budget sets, and the strategy vs. the direct response method).

We will also discuss the process of planning and running an economic experiment (including preregistration, ethics approval, available programming / implementation options, data storage, and data privacy issues) and the principles of analyzing experimental data.

Time and place

Lecture

We will stream the lecture also in zoom (for those who cannot attend in person and plan to place provide video recordings accessible via moodle.

Tutorial (blocked on three days)

Nov 25 - Research Questions Pitches (10am-6pm)

Room tbd

Dec 15 - Design Presentations I (10am-6pm)

Room tbd

Dec 16 - Design Presentations II (10am-6pm)

Room tbd

Examination

Term paper (~ 45000 characters) including:

• Research design proposal & pre-analyses plan (PAP) for one of two research questions (two best proposals made by participants)
• data analyses (data simulated by Woerner/Schudy based on submitted research design and PAP)
  

Important deadlines

• Deadline for upload of proposal for research question (short pitch on your favorite RQ): Nov 24, 2022
• Deadline for upload of presentations of design: Dec 14, 2022
• Deadline for upload of written design proposal & pre-analyses plan (this is a part of the term paper): Jan 13, 2023
• Final submission of term paper: Mar 7, 2023

Course-related references

Books

Jacquemet, N., & l'Haridon, O. (2018). Experimental economics. Cambridge University Press.

Moffatt, P. G. (2015). Experimetrics: Econometrics for experimental economics. Macmillan International Higher Education.

Overview Articles

Al-Ubaydli, O., & List, J. A. (2012). On the generalizability of experimental results in economics (No. w17957). National Bureau of Economic Research.

Croson, R., & Gächter, S. (2010). The science of experimental economics. Journal of Economic Behavior & Organization, 73(1), 122-131.

Harrison, G. W., & List, J. A. (2004). Field experiments. Journal of Economic Literature, 42(4), 1009-1055.

Samuelson, L. (2005). Economic theory and experimental economics. Journal of Economic Literature, 43(1), 65-107.

A related “fun” read

List, J. A. (2020). Non est disputandum de generalizability? A glimpse into the external validity trial (No. w27535). National Bureau of Economic Research.

Additional readings will be provided within the lecture slides.

The course is one of the compulsory modules in the Master's Program in Economics. The purpose of the course is to provide students with the mathematical background for their subsequent study of economics. Sometimes we will go over proofs of theorems, but sometimes we will only explain the intuition behind the theorems and focus on their applications in economics. The course will be taught in English. It consists of a lecture and an accompanying problem-solving class (i.e., the tutorial).

The enrollment key is in the comment on LSF.

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