Article: article from journal or magazin.
Questions of Scale in Economic Experiments
Revue de Philosophie Économique = Review of Economic Philosophy
Titre thématique du numéro:Experimental economics: some methodological aspects
Questions of scale have received ample attention in physical scale modeling and experimentation, but have not been discussed with regard to economic experimentation. In this article I distinguish between two kinds of experiments, "generic" and "specific" experiments. Using a comparison between two experimental laboratory studies on the "posted price effect", I then show that scale issues become important in specific laboratory experiments because of the scaling down of time in the target market to laboratory dimensions. This entails choices in the material configuration of the experiment as well as role changes of experimental subjects. My discussion thus adds to recent literature on external validity and on the materiality of experiments.
economic laboratory, experiments, physical scale models, posted price effect, dry barge market, pricing institutions
Last modification date