This chapter examines the relationship between agent-based modeling and economic
decision-making experiments with human subjects. Both approaches exploit controlled …

An indispensable survey of new developments and results in experimental economics When
The Handbook of Experimental Economics first came out in 1995, the notion of economists …

This paper reports 14 laboratory experiments that examine existing theories of the price
formation process in the continuous double auction. The experiments feature random values …

The methodological ideal of experimentalists, E, is easily stated: derive a testable
hypothesis, H, from a well-specified theory, T; implement experiments with a design; …

We summarize and review the literature on two types of economic experiments. First, we
explore the consequences for environmental policies of the vast body of literature refuting …

Blood is a vital resource in the health care context and then its efficient and effective
collection, management and distribution is a fundamental task. As blood is drawn on …

In theory, competitive emission permit markets minimize total abatement costs. Permit
markets are often imperfectly competitive, however, and may be thin and dominated by large …

From standard economic theory, the market clearing price for a commodity is set where the
demand and supply curves intersect. Convexity is a property that economic models require …

This paper studies how software agents influence the market behavior of human traders.
Software agents with a passive arbitrage-seeking strategy are introduced in a double …

We experimentally test the effect of sunk costs on decision making. In the experiment,
subjects play the role of price‐setting duopolists. Both firms have identical costs, including …