Experimental economics is about conducting experiments: bringing economics into the laboratory or creating controlled conditions in the field that allow us to understand better what we are seeing in less controlled circumstances.
Sentiment: POSITIVE
My first undertaking in the way of scientific experiment was in the field of economics and psychology.
Experimentation is an active science.
I think that it's more important for an economist to be wise and sophisticated in scientific method than it is for a physicist because with controlled laboratory experiments possible, they practically guide you; you couldn't go astray. Whereas in economics, by dogma and misunderstanding, you can go very sadly astray.
The problem with experiments has always been that human beings make the decisions on whether or not the animals have benefitted from the treatment.
Economic science concerns itself primarily with theoretical and empirical generalizations about the behavior of individuals, institutions, markets, and national economies. Most academic research falls in this category.
I don't think that somebody who is observing or predicting behavior should also be participating in the 'experiment.'
The eighteenth century discovery that, in an institutional framework that facilitates voluntary exchanges among individuals, this process generates results that might be evaluated positively, produced 'economics,' as an independent academic discipline or science.
Scientific experiments are expensive, and people are entitled to know about them if they want to. I think it is very difficult to convey ideas.
Economics is a strange science. Our subject deals with some of the most important as well as mundane issues that impinge on the human condition.
I don't like the word 'experiment' in the context of art in general. It implies something immature, unfinished, something entertaining for a moment before it becomes irrelevant.