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Research in Experimental Economics : Research in Experimental Economics - R. Mark Isaac

Research in Experimental Economics

Research in Experimental Economics

By: R. Mark Isaac (Editor)

Hardcover Published: 9th March 2001
ISBN: 9780762307029
Number Of Pages: 232

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Volume 8 of Research in Experimental Economics provides a forum for papers incorporating laboratory experimental economics. These specifically include interdisciplinary papers, papers that report experimental design innovations, and papers that report detailed data. The paper by Isaac, Walker and Williams is an example. It discusses the design of instructional experiments in such areas as monopoly, asset trading double auctions, and public goods. The paper also examines practical issues of using laboratory experiments as a teaching tool.

Four papers report on public goods research. Krishnamurthy, motivated by research questions in Marketing, examines the role of non-binding, face-to-face communication in public goods environments with and without provision points. Chewning, Coller, and Laury incorporate a natural modification of previous provision-point environments, namely, multiple provision points in which additional amounts of the public good will be provided at increasing threshold steps. The paper by Packard, Isaac, and Bial extends research on the marginal per capita return effect (broken down between the MPCR affecting own payoff and affecting others). This paper takes that distinction to a boundary in which the public good provides no marginal per capita return to the contributor. The paper by Croson examines, in the light of the literature on team production, the effect in a public goods environment of different levels of feedback on others' contributions. In one treatment, individuals know only the aggregate contributions of others, while in the other treatment they had information on individual decisions.

The paper by Kelly extends existing researchregarding single sellers by providing for multiproduct monopolists. It is not merely the addition of additional products that distinguishes this paper, but also the fact that monopolists have a bundling decision to make.

This volume concludes with two papers that use controlled experiments for testing policy-relevant allocation mechanisms. Elliott, Kruse, Schulze, and Ben-David examine four mechanisms for the rationing of productive inputs that are subject to supply shocks. Electricity markets are one obvious motivation, but certainly not the only one. Ishikida, Ledyard, Olson, and Porter present experimental "testbedding" research on the California RECLAIM emissions permit market.

List of contributors
Experimental economics methods in the large undergraduate classroom: practical considerations
Communication effects in public good games with and without provision points
Voluntary contributions to a multiple threshold public good
Feedback in voluntary contribution mechanisms: an experiment in team production
Asymmetric benefits in the voluntary contribution mechanism: a boundary experiment
Search behavior of the multiproduct monopolist: experimental results
Rationing supply capacity shocks: a laboratory comparison of second best mechanisms
Experimental test bedding of a pollution trading system: southern California's reclaim emissions market
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780762307029
ISBN-10: 0762307021
Series: Research in Experimental Economics : Book 8
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 232
Published: 9th March 2001
Country of Publication: US
Dimensions (cm): 23.39 x 15.6  x 1.42
Weight (kg): 0.5