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| Behavioural and Experimental Economics Laboratory | |
|---|---|
| Name | Behavioural and Experimental Economics Laboratory |
| Established | 2000s |
Behavioural and Experimental Economics Laboratory The Behavioural and Experimental Economics Laboratory is a research unit that conducts controlled studies of decision-making using experimental protocols, economic models, and interdisciplinary methods. The laboratory operates within university, institute, or think-tank settings and connects to networks of scholars, policy-makers, and funders to test hypotheses derived from Daniel Kahneman, Amos Tversky, Richard Thaler, Vernon Smith, and Elinor Ostrom. It collaborates with departments and centres linked to Harvard University, Stanford University, University of Chicago, Massachusetts Institute of Technology, and London School of Economics.
The laboratory focuses on human choice, strategic interaction, market mechanisms, and social preferences drawing on theoretical work by John Nash, Robert Aumann, Leonid Hurwicz, Kenneth Arrow, and Thomas Schelling. It situates projects within traditions exemplified by Experimental economics, Behavioural economics, Neuroeconomics, and studies by Herbert Simon, George Akerlof, Gary Becker, Daniel McFadden, and Roger Myerson. Institutional links frequently include research centres at Princeton University, Yale University, Columbia University, University of Oxford, and University of Cambridge, and partnerships with policy institutions such as World Bank, International Monetary Fund, and Organisation for Economic Co-operation and Development.
Research spans loss aversion and prospect theory from Daniel Kahneman and Amos Tversky to auction design following principles of Vickrey auction and mechanisms inspired by Lloyd Shapley and Alvin Roth. Studies examine trust and reciprocity building on work by Ernst Fehr and Simon Gächter, public goods and commons management related to Elinor Ostrom, bargaining experiments in the tradition of John Nash and Reinhard Selten, and market microstructure linked to Eugene Fama and Michael Spence. Methods integrate randomized controlled trials popularized by Esther Duflo and Abhijit Banerjee, laboratory games used by Vernon Smith, field experiments associated with Katherine L. Milkman and Judith D. Singer, and neuroscientific measurement techniques derived from Karl Friston and Antonio Damasio.
Facilities commonly include computerized experiment labs modelled after those at University of Arizona, University of Amsterdam, University of Bonn, and George Mason University. Equipment and software draw on platforms like z-Tree influenced by Frank Zimmermann and ORSEE systems used in coordination with projects by Armin Falk and Uwe Sunde. Labs feature eye-tracking from manufacturers used in projects by Michael I. Posner, electroencephalography referencing standards from David Hubel studies, functional MRI collaborations analogous to work at National Institutes of Health facilities, and high-performance computing clusters similar to those at Lawrence Berkeley National Laboratory.
The laboratory has produced experiments replicating classic results: risk preferences aligned with Prospect theory by Daniel Kahneman and Amos Tversky, the endowment effect studied in the context of Richard Thaler’s work, trust games building on Ernst Fehr and Simon Gächter, and market experiments following Vernon Smith that explore double auction dynamics associated with Milton Friedman and Friedrich Hayek debates. It has contributed to evidence on nudges inspired by Cass Sunstein and Richard Thaler, behavioral interventions evaluated in randomized trials like those by Angus Deaton and Raghuram Rajan, and coordination solutions influenced by Thomas Schelling and Elinor Ostrom. Cross-disciplinary replications reference cognitive models advanced by Herbert Simon, statistical frameworks from Ronald Fisher, and decision-theoretic foundations from Kenneth Arrow.
The lab offers graduate seminars modeled on curricula from Massachusetts Institute of Technology, teaching modules reflecting syllabi at Princeton University and University of California, Berkeley, and workshops akin to summer schools run by Cowles Foundation and NBER. Training includes methods clinics inspired by Angus Deaton’s pedagogy, software courses following z-Tree and ORSEE, and ethics instruction comparable to programs at NIH and Medical Research Council. Outreach engages policy audiences at European Commission events, industry partners like McKinsey & Company and Goldman Sachs, and public dissemination through venues such as TED Conferences and Royal Society lectures.
Funding sources include research councils analogous to National Science Foundation, philanthropic organizations similar to Bill & Melinda Gates Foundation and Alfred P. Sloan Foundation, and competitive awards such as grants resembling those from ERC and Leverhulme Trust. Institutional affiliations range across universities like University of Chicago, Yale University, University College London, and think tanks comparable to Brookings Institution and The Heritage Foundation. Collaborative projects often list co-investigators linked to NBER, CEPR, IZA, and research networks formed around scholars such as Daron Acemoglu and Esther Duflo.
Ethical oversight adheres to standards similar to institutional review boards at National Institutes of Health and compliance frameworks used by European Research Council projects. Protocols reference pre-registration norms advocated by Christopher A. Sims and open science practices promoted by Brian Nosek and the Center for Open Science. Data management follows FAIR principles comparable to policies at Digital Science and archival procedures used by repositories like ICPSR and Harvard Dataverse, with anonymization and consent procedures aligned to guidelines from World Medical Association and Council for International Organizations of Medical Sciences.
Category:Research laboratories