Experimental Economics: Where Next?
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| Title | Experimental Economics: Where Next?
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| Author | Liangcong Fan and Lu Liu |
| Organization | Zhejiang University |
| Email | flc1984@163.com；lu_liu@aliyun.com |
| Key Words | Experimental Economics; Empiric; Theory; Theory of Behavior and Social Order; Adam Smith |
| Abstract | The process of experimentation in economics is growing fast and fast. At present, economists have come to increasingly rely on experiments to explain and predict economic phenomenon. This paper highly summarized the empirical breakthroughs achieved by experimental economists, and then evaluated the three theoretical approaches they exert to synthesize the empirical findings. We argued that none of the three theoretical approaches could integrate all the empirical findings because none of them could attend to one thing without losing sight of the other when dealing with the theory of behavior and social order. We also argued that the theory Adam Smith elaborated in The Theory of Moral Sentiments shed a valuable light on how to construct an integrative behavior and social order theory in the future. |
| Serial Number | WP1119 |
| Time | 2016-10-13 |
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