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Published October 31, 2017 | Submitted
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Experimental Economics: Theory and Results

Abstract

It is the premise of this paper that the study of the decision behavior of suitably motivated individuals and groups in laboratory or other socially isolated settings such as hospitals (Battalio, Kagel, et al., 1973) has important and significant application to the development and verification of theories of the economic system at large.

Additional Information

Published as Smith, Vernon L. "Experimental economics: Induced value theory." The American Economic Review 66.2 (1976): 274-279.

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August 19, 2023
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