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LABORATORY EXPERIMENTS FOR ECONOMIC POLICY MAKING
Author(s) -
Normann HansTheo,
Ricciuti Roberto
Publication year - 2009
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1111/j.1467-6419.2008.00567.x
Subject(s) - common value auction , scope (computer science) , economics , competition policy , institution , public economics , competition (biology) , mechanism (biology) , value (mathematics) , microeconomics , computer science , political science , law , monopoly , programming language , ecology , philosophy , epistemology , machine learning , biology
In this paper, we assess the scope and the specific contribution of laboratory experiments for economic policy making. We review experiments which have addressed a specific problem, institution, mechanism design or tool relevant in economic policy. We have two research questions. What type of policy questions can be addressed in the laboratory? And what is the specific value added of economic experiments for policy making. The survey contains experiments on competition policy, auctions, regulated markets, and emission permits.