Experimental Economics

  • Ulrike Leopold-Wildburger


Experimental economics has become an important field within the economic theory. The roots go back to the beginning of our century. In this short survey we try to give an overview about some remarkable milestones in this direction, especially with a view to mathematical modelling of forcasts resp. predictions.


Rational Expectation Economic Behavior Experimental Economic Economic Sociology Nash Equilibrium Point 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. ALLAIS, M. (1953), “Le comportement de l’homme rationel devant le risque: critique des postulats et axiomes de l’ecole americaine”, Econometrica 21, 506 - 546.Google Scholar
  2. BECKER, O. (1967), “Experimentelle Untersuchung der Erwartungsbildung für eine Zeitreihe”, in: Sauermann, H. (ed.): Beiträge zur Experimentellen Wirtschaftsforschung, Tübingen, 226 - 254.Google Scholar
  3. BECKER, O., LEOPOLD, U. (1985), “An Univariate Prediction Experiment”, in: Brandstätter, H., KIRCHLER, E. (eds.), Economic Psychology, Proceedings of the 10th IAREP Annual Colloqium, 159 - 167.Google Scholar
  4. BECKER, O. (1990), “Laboratory Researches on Expectation Formation”, manuskript.Google Scholar
  5. BOLLE, F. (1988), “Testing for Rational Expectations in Experimental Predictions”, in: Maital, Shlomo, Applied Behavioural Economics 1, Brighton, 319-334.Google Scholar
  6. CHAMBERLIN, E.H. (1948), “An Experimental Imperfect Market”, Journal of Political Economy, 95-108.Google Scholar
  7. COATS, W. (1976), “Economics and Psychology: the Death and Resurrection of a Research Programme”, in: S.J. LATSIS (ed.), Method and Appraisal in Economics, Cambridge: Cambridge University Press, 42 - 64.Google Scholar
  8. EICHHORN, W. (1979), “Generalized Nash Equilibrium Points for the Theory of Oligopoly”, in: Moeschlin, O., Pallaschke, D. (eds.), Game Theory and Related Topics, Amsterdam, 275 - 280.Google Scholar
  9. FELLNER, W. (1980), “The Valid Core of Rationality Hypotheses in the Theory of Expectations”, in: Journal of Money, Credit, and Banking 12, 763 - 787.Google Scholar
  10. FISHER, I. (1896), Appreciation and Interest, New York.Google Scholar
  11. FISHER, I. (1930), The Theory of Interest, New York.Google Scholar
  12. FLOOD, M. (1958), “Some Experimental Games”, Management Science 5, 5 - 26.CrossRefGoogle Scholar
  13. FRIEDMAN, M. (1963), “Individual Behaviour in Oligopolistic Markets: An Experimental Study”, Yale Economic Essays 3, 359 - 417.Google Scholar
  14. GARNER, A.C. (1982), “Experimental Evidence on the Rationality of Intuitive Forecasters”, in: Smith, V.L., Research in Experimental Economics, Vol.2, Greenwich and London, 1982, 113 - 128.Google Scholar
  15. HAYEK, F.A. (1948), Individualism and Economic Order, University of Chicago Press.Google Scholar
  16. HAYEK, F.A. (1978/85), New Studies in Philosophy, Politics, Economics and the History of Ideas, Chicago, IL and London: The University of Chicago Press and Routledge & Kegan Paul.Google Scholar
  17. LEA, St.E.G., WEBLEY, P., YOUNG, B.M. (eds.) (1992), New Directions in Economic Psychology: Theory, Experiment and Application, Webley.Google Scholar
  18. LEOPOLD, U. (1986), “Effects of the Essential Offer in 3-Person Characteristic Function Games”, In: Methods of Operations Research 54, Hain, Konigstein 403 - 413.Google Scholar
  19. LEOPOLD, U. (1988), “Ein Beitrag zur Experimentellen Wirtschaftsforschung: Ergeb- nisse von Drei-Personen-Aufteilungsentscheidungen”, Österreichische Zeitschrift fur Statistik und Informatik 18, Heft 4, 287-302.Google Scholar
  20. LEOPOLD, U. (1992), “Payoff Divisions on Coalition Formation in a Three-Person Char¬acteristic Function Experiment”, Journal of Economic Behavior and Organization 17, North Holland, 183–193.Google Scholar
  21. LUCAS, R.E. (1975), “An Equilibrium Model of the Business Cycle”, in: Journal of Political Economy 83, 1113–1144.Google Scholar
  22. MARSHALL, A. (1890/1947), Principles of Economics: An Introductory Volume, 8th ed. London: Macmillan.Google Scholar
  23. MASON, T. (1987), Expectation Formation in a Controlled Laboratory Environment, Blomington, Indiana.Google Scholar
  24. MAYNARD SMITH, J. (1982), Evolution and the Theory of Games, Cambridge.Google Scholar
  25. MENGER, C. (1871/1923), Grundsatze der Volkswirtschaftslehre, Vienna: Holder-Pichler-Tempsky.Google Scholar
  26. MILLS, E.S. (1957), “The Theory of Inventory Decisions”, in: Econometrica 25, 222–238.Google Scholar
  27. MILLS, E.S. (1962), “Price, Output and Inventory Policy”, in: Publications in Operations Research 7, New York, 34–45.Google Scholar
  28. MUTH, J.F. (1961), “Rational Expectations and the Theory of Price Movements”, Econometrica 29, 315–335.CrossRefGoogle Scholar
  29. NASH, J.F. (1950), “The Bargaining Problem”, in: Econometrica 18, 315–335.Google Scholar
  30. ROTH, A.E. (1987), “Introduction and Overview”, in Roth, A.E. (ed.), Laboratory Experimentation in Economics, Cambridge, 1–13.Google Scholar
  31. SARGENT, T.J., N. WALLACE (1976), “Rational Expectations and the Theory of Economic Policy”, in: Journal of Monetary Economics 2, 169–183.Google Scholar
  32. SAUERMANN, H., SELTEN,R. (1959), “Ein Oligopolexperiment”, Zeitschrift fur die Gesamte Staatswissenschaft 115, 427–471.Google Scholar
  33. SCHMALENSEE, R. (1976), “An Experimental Study of Expectation Formation”, in: Econometrica 44, 17–41.Google Scholar
  34. SCHUMPETER, J.A. (1954), History of Economic Analysis, New York NY, Oxford University Press.Google Scholar
  35. SELTEN, R. (1980), “A Note on Evolutionarily Stable Strategies in Asymmetric Conflicts”, J. Theor. Biol 84, 93–101.CrossRefGoogle Scholar
  36. SELTEN, R. (1989), Evolution, Learning and Economic Behavior, Nancy L. Schwartz Memorial Lecture, Working Paper, Kellogg Graduate School of Management, Northwestern University.Google Scholar
  37. SIEGEL, S., FOURAKER, L.E. (1960), Bargaining and Group Decision Making: Experiments in Bilated Monopoly, New York, McGraw-Hill.Google Scholar
  38. STONE, J. (1958), “An Experiment in Bargaining Games”, Econometrica 26, 286–297.CrossRefGoogle Scholar
  39. TARDE, G. (1902), La psychologie economique, Paris, Alcan (2 vol.).Google Scholar
  40. von BÖHM-BAWERK, E. (1888/1912), Positive Theorie des Kapitales. Dritte Auflage, zweiter Halbband, Innsbruck: Verlag der Wagner’schen Universitats-Buchhandlung.Google Scholar
  41. von NEUMANN, J., MORGENSTERN, O. (1944/47), Theory of Games and Economic Behavior, Princeton, New Jersey.Google Scholar

Copyright information

© Springer-Verlag Berlin · Heidelberg 1993

Authors and Affiliations

  • Ulrike Leopold-Wildburger
    • 1
  1. 1.Institut für Statistik, Ökonometrie und Operations ResearchKarl-Franzens-Universität GrazGrazAustria

Personalised recommendations