EXPERIMENT IN ECONOMICS

Year 2011, Volume: 3 Issue: 1, 129 - 138, 01.06.2011

Müslüm Basilgan

Abstract

In contrast to sciences such as physics, chemistry and psychology, using
experimental methods in economics has encountered significant resistance
reaching as far back as Mill. The basic reason for the resistance is the widely
accepted view that experiment is not suited to analyzing complex human activity
including economic behaviors. However, experimental studies, which started to
test economics theories from the 1940s, have now reached an important point. The
purpose of this study is to show how economics arrived to this point and outline
the effect of experimental studies on the future of economics.

Keywords

Experiment, Laboratory Experiment, Field Experiment

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