For the last 15 years, economist Kay-Yut Chen has been quietly toiling away in Hewlett-Packard's labs, running experiments mostly on nearby Stanford students to help determine such things as the best ...

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 ...

Despite an abundance of strong economic theory compiled over the decades, it’s still notoriously difficult to predict what economic systems will do. That’s because the economy is driven by an ...

Using the scientific process of laboratory control and replication to study the critical causal relationships of economic behavior and to design improved policy, markets, and products that benefit ...

Nobel laureate economist Vernon Smith spent three years at the University of Alaska Anchorage late in his career, and UAA has now named the centerpiece of its experimental economics program after him.

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, ...

Nobel Prize-winning economist Vernon Smith was in Australia last week to lecture at the Macquarie Graduate School of Management in Sydney. In addition to his academic obligations, he caused a minor ...

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) ...

Next spring, Alaska and Norwegian college students will participate in an educational pilot program that explores shared management of Arctic resources. This "proof-of-concept" eventually will shape ...

Attending the dinner in the East and West Faculty Lounge in the Purdue Memorial Union were about 75 current and emeritus Krannert faculty, spouses and Smith's former Krannert colleagues who have gone ...

Our M.S. in Agricultural and Resource Economics (AREC) program encourages students to use analytical skills to engage with meaningful questions about human behavior in the environment. These are the ...

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 ...