Economic theory is often tested using data from natural markets. In many cases, clear conclusions about theoretical propositions can be drawn by observing naturally occurring data. At other times, ...

Our series continues on economic theories that are changing the way we think. Today, Andreas Ortmann explains experimental economics. Experimental economics is not really a new theory but a (still) ...

Compass Lexecon, a subsidiary of FTI Consulting, Inc. (NYSE: FCN), today announced that Dr. Ori Heffetz, a Professor of ...

Reproducibility is an important measure of validity in all fields of experimental science. If researcher A publishes a particular scientific result from his laboratory, researcher B should be able to ...

Vernon L. Smith is Regents Professor of Economics and research director of the Economic Science Laboratory at the University of Arizona. He is author of more than 100 articles and books on capital ...

Nearly 400 years ago Galileo performed the first recorded laboratory experiment, timing balls as they rolled down an inclined plane to test his theory of acceleration. Since that time, laboratory ...

Editor’s note: This story was first published on Econofact. The Nobel Memorial prize in Economic Sciences awarded this year to Abhijit Banerjee, Esther Duflo, and Michael Kremer has focused attention ...

Climate change is among the largest threats to humanity. The current gradual government action is insufficient in effectively reducing greenhouse gases (GHG) pollution. In fact, at the current ...

Experimental economics is a sub‐discipline that employs controlled laboratory and field settings to investigate economic behaviour, test theoretical predictions, and inform policy. By designing ...