The Experts below are selected from a list of 27807 Experts worldwide ranked by ideXlab platform
Satish V. Ukkusuri - One of the best experts on this subject based on the ideXlab platform.
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Experimental Economics and choice in transportation: Incentives and context
Transportation Research Part C: Emerging Technologies, 2017Co-Authors: Vinayak V. Dixit, Andreas Ortmann, E. Elisabet Rutström, Satish V. UkkusuriAbstract:This paper reviews the preconditions for successful applications of Experimental Economics methods to research on transportation problems, as new transportation and research technologies emerge. We argue that the application of properly designed incentives, the hallmark of Experimental Economics, provides a high degree of Experimental control, leading to internal validity and incentive compatibility. Both of these are essential for ensuring that findings generalize to contexts outside the immediate application. New technologies, such as virtual reality simulators, can generate external validity for the experiments by providing realistic contexts. GPS and other tracking technologies, as well as smart phones, smart cards and connected vehicle technologies can allow detailed observations on actions and real-time interactions with drivers in field experiments. Proper application of these new technologies in research requires an understanding of how to maintain a high level of internal validity and incentive compatibility as external validity is increased. In this review of past applications of Experimental Economics to transportation we focus on their success in achieving external and internal validity.
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Understanding Transportation Systems Through the Lenses of Experimental Economics: A Review
SSRN Electronic Journal, 2015Co-Authors: Vinayak Dixit, Andreas Ortmann, E. Elisabet Rutström, Satish V. UkkusuriAbstract:Planning, operation and analysis of transportation systems hinge on theories and assumptions regarding individual choices, traffic flows, and traffic equilibria. Transportation field data collection, however, often lacks sufficient control, and therefore is often not suitable to test theories in transport modelling and their underlying behavioural axioms. With increased pressure on transport planners to deliver efficient, safe and publicly acceptable plans, it is imperative for transport scientists to find alternatives when testing the behavioural axioms that underpin current theories. Transportation scientists have, in response, increasingly used methods from Experimental Economics to gain insights into behaviour as well as to test theories and policies. Here we review and critically analyse the use of the Experimental method in transportation science. Specifically, we synthesize the findings of Experimental studies with regard to safety, freight, route choice, departure time choice, and location choice. We also reflect on well-known traffic paradoxes. We find that some of the evidence for traffic paradoxes can be attributed to Experimental artefacts and that Experimental studies when conducted by engineers tend to lack dominance and when conducted by economists tend to lack salience. Dominance and salience are key precepts of the external validity of studies drawing on methods from Experimental Economics. This review work also highlights methods that strengthen dominance and salience when using Experimental Economics in transportation studies.
Zachary Ernst - One of the best experts on this subject based on the ideXlab platform.
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Philosophical Issues Arising from Experimental Economics
Philosophy Compass, 2007Co-Authors: Zachary ErnstAbstract:Human beings are highly irrational, at least if we hold to an economic standard of ‘rationality’. Experimental Economics studies the irrational behavior of human beings, with the aim of understanding exactly how our behavior deviates from the Homo economicus, as ‘rational man’ has been called. Insofar as philosophical theories depend upon rationality assumptions, Experimental Economics is the source of both problems and (at least potential) solutions to several philosophical issues. This article offers a programmatic and highly biased survey of some of these issues, with the hope of convincing the reader that Experimental Economics is well-deserving of careful study by philosophers.
Alvin E Roth - One of the best experts on this subject based on the ideXlab platform.
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The Handbook of Experimental Economics, Volume 2
2016Co-Authors: John H Kagel, Alvin E RothAbstract:When The Handbook of Experimental Economics first came out in 1995, the notion of economists conducting lab experiments to generate data was relatively new. Since then, the field has exploded. This second volume of the Handbook covers some of the most exciting new growth areas in Experimental Economics, presents the latest results and Experimental methods, and identifies promising new directions for future research. Featuring contributions by leading practitioners, the Handbook describes experiments in macroEconomics, charitable giving, neuroEconomics, other-regarding preferences, market design, political economy, subject population effects, gender effects, auctions, and learning and the Economics of small decisions. Contributors focus on key developments and report on experiments, highlighting the dialogue between experimenters and theorists. While most of the experiments consist of laboratory studies, the book also includes several chapters that report extensively on field experiments related to the subject area studied.
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the handbook of Experimental Economics
1995Co-Authors: John H Kagel, Alvin E RothAbstract:This book, which comprises eight chapters, presents a comprehensive critical survey of the results and methods of laboratory experiments in Economics. The first chapter provides an introduction to Experimental Economics as a whole, with the remaining chapters providing surveys by leading practitioners in areas of Economics that have seen a concentration of experiments: public goods, coordination problems, bargaining, industrial organization, asset markets, auctions, and individual decision making.
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The Early History of Experimental Economics
Journal of the History of Economic Thought, 1993Co-Authors: Alvin E RothAbstract:In the course of coediting theHandbook of Experimental Economics(forthcoming) it became clear to me that contemporary Experimental economists tend to carry around with them different and very partial accounts of the history of this still emerging field. This project began as an attempt to merge these “folk histories” of the origins of what I am confident will eventually be seen as an important chapter in the history and sociology of Economics.
Jan Potters - One of the best experts on this subject based on the ideXlab platform.
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Insights from Experimental Economics for Market Regulation
Review of Business and Economic Literature, 2004Co-Authors: Michael U. Krause, Sabine Kröger, Jan PottersAbstract:We present selected results in Experimental Economics with relevance for market regulation and derive from them concrete insights that could be interesting for regulating authorities. For those readers that are new to Experimental Economics, the purposes and advantages of economic experiments are discussed and the Experimental double-auction market is described in detail to serve as a benchmark example. The Experimental results regarding three potential sources of market failure are then outlined: market power, asymmetric information, and externalities. Furthermore, Experimental test-bedding, a promising technique for market regulators to examine a new market design ex-ante, is discussed. One important contribution of Experimental Economics we would like to stress is that the market institution is more important for market outcomes than economic theory has recognized so far.
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Insights from Experimental Economics for market regulation
2004Co-Authors: Michael U. Krause, Sabine Kröger, Jan PottersAbstract:We present selected results in Experimental Economics with relevance for market regulation and derive from them concrete insights that could be interesting for regulating authorities. For those readers that are new to Experimental Economics, the purposes and advantages of economic experiments are discussed and the Experimental double-auction market is described in detail to serve as a benchmark example. The Experimental results regarding three potential sources of market failure are then outlined: market power, asymmetric information, and externalities. Furthermore, Experimental test-bedding, a promising technique for market regulators to examine a new market design ex-ante, is discussed. One important contribution of Experimental Economics we would like to stress is that the market institution is more important for market outcomes than economic theory has recognized so far.(This abstract was borrowed from another version of this item.)
David L. Baumer - One of the best experts on this subject based on the ideXlab platform.
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An Experimental Economics approach toward quantifying online privacy choices
Information Systems Frontiers, 2006Co-Authors: J. C. Poindexter, Julia B. Earp, David L. BaumerAbstract:The importance of personal privacy to Internet users has been extensively researched using a variety of survey techniques. The limitations of survey research are well-known and exist in part because there are no positive or negative consequences to responses provided by survey participants. Such limitations are the motivation for this work. Experimental Economics is widely accepted by economists and others as an investigative technique that can provide measures of economic choice-making that are substantially more accurate than those provided by surveys. This paper describes our efforts at applying the techniques of Experimental Economics to provide a foundation for (a) estimating the values that consumers place on privacy and various forms of security (encryption, HIPAA, etc.) and for (b) quantifying user responses to changes in the Internet environment. The contribution of this study is a better understanding of individual decision-making in the context of benefits and costs of making private information available to Internet sites. Preliminary results from a series of pilot studies are consistent with optimizing behaviors, indicating that continued application of Experimental Economics techniques in the quantification of Internet user actions in privacy/security space will be illuminating. Our results show that Internet users place great value on security measures, both regulatory and technical, that make identity theft much less likely. Our Web-based experiments indicate that privacy- and security- enhancing protections are likely to be subject to moral hazard responses, as participants in our online experiments became more aggressive in their Internet usage with greater protection in place.
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WEIS - Quantifying Privacy Choices with Experimental Economics
2005Co-Authors: David L. Baumer, Julia B. Earp, J. C. PoindexterAbstract:The importance of personal privacy to Internet users has been extensively researched using a variety of survey techniques. The limitations of survey research are well-known and exist in part because there are no positive or negative consequences to responses provided by survey participants. Experimental Economics is widely accepted by economists and others as an investigative technique that can provide measures of economic choice-making that are substantially more accurate than those provided by surveys. This paper describes our preliminary efforts at applying the techniques of Experimental Economics to provide a foundation for estimating the values that consumers place on privacy and various forms of security, such as encryption and HIPAA. In the activities described, experiment participants are graduate and undergraduate students currently seeking jobs. Preliminary results from two pilot experiments suggest that a complete set of Experimental measures of choice-making will provide valuable quantification of behavior in Internet privacy/security space. These results also show that online job seekers place great value on security measures, both legislative and technical, that make identity theft much less likely.
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WPES - Modeling privacy values with Experimental Economics
Proceedings of the 2004 ACM workshop on Privacy in the electronic society - WPES '04, 2004Co-Authors: Julia B. Earp, J. C. Poindexter, David L. BaumerAbstract:The importance of personal privacy to Internet users has been extensively researched using a variety of survey techniques. The limitations of survey research are well-known and take place because there are no positive or negative consequences to the responses given. Experimental Economics was first developed by John Nash and has been refined by several Nobel Prize winning economists. We use the principles of Experimental Economics to determine the relative values that consumers place on privacy and various forms of security, such as encryption and HIPAA. In particular, the experiment participants are graduate and undergraduate students currently seeking jobs.
