The experimental observation of behavior in economic situations is a relatively new discipline, which came on its own in the last two decades of the twentieth century. Over the first decade of the millennium, experiments on markets, games and individual decision-making have caused economists to rethink and recalibrate and at times reject the neoclassical paradigm that posits individual agents as rational self-interested maximizers transacting in an efficient market. Experiments are used today not just to test observed behavior against theoretical benchmarks but also to aid in the design of new institutions and to study the effects of new policy initiatives.
The Workshop is supported by the Center for Analytical Finance and the Senior Associate at the Indian School of Business
Participants in the Workshop on Experimental Economics at the Indian School of Business will present new working papers in the fields of game theory, development economics, consumer behavior, emphasizing the value of experimental methods in wide variety of fields. A detailed schedule is available here.