MW24.2 Quantitative Economics I (SS2020)

Experimental Economics

Distance Learning

Until the university returns to the normal mode of operation, prerecorded lectures and exercise sessions will be shared via cloud.uni-jena.de. Meant as a substitute for actual meetings, they will be made available, one by one, according to the nominal time schedule.

If you have a question, please write me an e-mail with a reference to a particular slide or page etc. I will then try to answer the most popular questions in the Q&A section for everybody to read.

Course Structure

The course is comprised of two parts. As far as the lectures, the first part provides a basic overview of the field and discusses the major methodological issues related to conducting economic experiments in the laboratory. The second part discusses some prominent findings from a selection of game theory inspired experiments.

The first block of exercise sessions provides a recapitulation of some core game theoretic concepts that serve as the de facto standard benchmarks for experimental findings. The second block is reserved for in-class experiments and more detailed discussion of select papers.

Time Schedule

Lecture: WED, 1400 - 1600, SR306.

Exercise: THU, 1600 - 1800, SR206.

Exam: July 29, 1000 (German time).

Exam Retake: October 15, 1000 (German time; only available to those who took the original exam and did not pass).

Exam Results

Points 1 1 1 1 3 3 6 6 6 9 9 10 10 11 16
Grade 5.0 5.0 5.0 5.0 5.0 5.0 4.0 4.0 4.0 2.7 2.7 2.3 2.3 2.0 1.0

Prerequisites

There are no specific prerequisites but "MW26.1 Approaches to Economic Science" is recommended.

Reading Materials

The course does not have a master text book but rather requires the students to read the original papers for a given topic. Still, select chapters from the following list can be useful for background reading.

Methodology:

Experimental Findings:

  • Holt, Charles A. Markets, Games, and Strategic Behavior, Pearson-Adison Wesley, 2007.

    This book is not considered essential reading so you can skip it if the university library does not open in time.

In addition, lecture notes or slides will be provided where applicable. Please consider the suggested reading list for the details.

For the game theory block of the exercise sessions there will be no written materials provided. The block is loosely based on Robert Gibbons' Game Theory for Applied Economists (1992) but virtually any game theory text book should be just fine.

The above links links should work from within the university (or via the university VPN).

Classroom Experiments

As part of the second block of the exercise sessions, adapted versions of some prominent experiments will be conducted online. While it is possible to participate using a smartphone, it is recommended that you use something with a larger screen for that.

Grading Policy

The course grade is solely determined by performance at the final exam.

This year, the exam will be conducted online and have the open question format.

Content wise, my goal is to test your understanding of the core concepts as well as their application. Take a look at the sample exam as well as the associated video file on cloud.uni-jena.de for the model answers.

The exam will be conducted with the help of the Moodle platform at exam.uni-jena.de. Use your regular university credentials to login there. After that, subscribe to the course using the following link and password that you will receive via e-mail. There, you can try a test exam to get to know the software.

The actual exam will contain 6 questions and open at 1000 on July 29 (German time). You will have 60 minutes or until 1115 (whichever happens first) to submit your answers. During this time, I will be available via text chat. If everything breaks down completely, you should send your answers via e-mail as soon as possible.

In order to register for the exam, you need to subscribe at the Moodle platform above and submit a signed declaration form until 1000 on July 28 (German time). The form is to be scanned with your Thoska card in the designated area. Taking a picture is also fine as long as it is straight and legible. In this form, you essentially declare that you will be taking the exam on your own, not communicating with other persons etc. and that you are aware that any violation results in an automatic fail.

If you decide to cancel your registration, you can do so until 1000 on July 28 (German time) by sending me an e-mail.