The Method of Experimental Economics

The Method of Experimental Economics International Negotiation 10: 131–148, 2005. © 2005 Koninklijke Brill NV. Printed in the Netherlands . 131 * Rachel Croson received her PhD in Economics from Harvard University in 1994. She con- ducts research in experimental economics, judgment and decision-making, negotiation and social dilemmas. She is currently an Associate Professor at the Wharton School of the University of Pennsylvania and serves as the Psychology Head on the board of the Economic Science Association, the professional association for experimental economists. The Method of Experimental Economics RACHEL CROSON* The Wharton School, University of Pennsylvania, 567 Huntsman Hall, 3730 Walnut Street, Philadelphia, PA 19104–6340 USA (Email: crosonr@wharton.upenn.edu) Abstract. There are many similarities between experimental economics and psychological research, both substantive and methodological, but there are important differences as well. This article discusses five methodological areas where experimental economists and experimental psychologists differ: incentives, context, subject pools, deception, experimental details and data analysis. Within each topic I present the economists’ methodology and rationale and contrast it with current practice in psychology and management research. My hope is that this article will lead not only to a deeper understanding of each field’s choice of methodology, but also to prac- tical advice for researchers toward http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Negotiation Brill

The Method of Experimental Economics

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Publisher
Martinus Nijhoff
Copyright
© 2005 Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1382-340X
eISSN
1571-8069
D.O.I.
10.1163/1571806054741100
Publisher site
See Article on Publisher Site

Abstract

International Negotiation 10: 131–148, 2005. © 2005 Koninklijke Brill NV. Printed in the Netherlands . 131 * Rachel Croson received her PhD in Economics from Harvard University in 1994. She con- ducts research in experimental economics, judgment and decision-making, negotiation and social dilemmas. She is currently an Associate Professor at the Wharton School of the University of Pennsylvania and serves as the Psychology Head on the board of the Economic Science Association, the professional association for experimental economists. The Method of Experimental Economics RACHEL CROSON* The Wharton School, University of Pennsylvania, 567 Huntsman Hall, 3730 Walnut Street, Philadelphia, PA 19104–6340 USA (Email: crosonr@wharton.upenn.edu) Abstract. There are many similarities between experimental economics and psychological research, both substantive and methodological, but there are important differences as well. This article discusses five methodological areas where experimental economists and experimental psychologists differ: incentives, context, subject pools, deception, experimental details and data analysis. Within each topic I present the economists’ methodology and rationale and contrast it with current practice in psychology and management research. My hope is that this article will lead not only to a deeper understanding of each field’s choice of methodology, but also to prac- tical advice for researchers toward

Journal

International NegotiationBrill

Published: Jan 1, 2005

Keywords: SUBJECT POOL; CONTEXT; METHODOLOGY; DATA ANALYSIS; EXPERIMENTAL ECONOMICS; INCENTIVES; DECEPTION

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