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Definition of Experimental Economics
At the University of Wyoming, the Department of Agricultural and Applied Economics experimental economics program is constantly evolving. To date, we have used experimental economic methods to study market outcomes under alternative trading institutions, methods of delivery, and public information scenarios; effects of alternative market structures in the livestock industry; consumer values of credence attributes; consumer time and risk preferences; family economic behavior; ex-ante evaluation of agricultural policy; land conservation and habitat preservation; and much more. We also enjoy using experimental economics to teach students about economic theory and individual behavior in the classroom. We look forward to using our newly installed experimental economics laboratory to expand our fields of inquiry in the future. Graduate students in our department are encouraged to use this new facility for their thesis research projects.
Davis, Douglas D., and Charles A. Holt. 1993. Experimental Economics. Princeton: Princeton University Press.