Economic Theory and Experimental Economics

Author: Samuelson, Larry

Source: Journal of Economic Literature, Volume 43, Number 1, March 2005 , pp. 65-107(43)

Publisher: American Economic Association

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Abstract:

This paper explores the questions of how economic theory can be used to design and interpret experiments and how experimental results can be used to construct and interpret economic theories. The relationship between economic theory and experiments is modeled and illustrated with examples from both theoretical and experimental work. The emphasis is on combing theory and experiment to the benefit of both.

Document Type: Research article

DOI: 10.1257/0022051053737816

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