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Markets, Games, and Strategic Behavior

An Introduction to Experimental Economics (Second Edition)

Charles A. Holt

ca. 82,99
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft


From a pioneer in experimental economics, an expanded and updated edition of a textbook that brings economic experiments into the classroom

Economics is rapidly becoming a more experimental science, and the best way to convey insights from this research is to engage students in classroom simulations that motivate subsequent discussions and reading. In this expanded and updated second edition of Markets, Games, and Strategic Behavior, Charles Holt, one of the leaders in experimental economics, provides an unparalleled introduction to the study of economic behavior, organized around risky decisions, games of strategy, and economic markets that can be simulated in class. Each chapter is based on a key experiment, presented with accessible examples and just enough theory.

Featuring innovative applications from the lab and the field, the book introduces new research on a wide range of topics. Core chapters provide an introduction to the experimental analysis of markets and strategic decisions made in the shadow of risk or conflict. Instructors can then pick and choose among topics focused on bargaining, game theory, social preferences, industrial organization, public choice and voting, asset market bubbles, and auctions.

Based on decades of teaching experience, this is the perfect book for any undergraduate course in experimental economics or behavioral game theory.

  • New material on topics such as matching, belief elicitation, repeated games, prospect theory, probabilistic choice, macro experiments, and statistical analysis
  • Participatory experiments that connect behavioral theory and laboratory research
  • Largely self-contained chapters that can each be covered in a single class
  • Guidance for instructors on setting up classroom experiments, with either hand-run procedures or free online software
  • End-of-chapter problems, including some conceptual-design questions, with hints or partial solutions provided

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Outcome (game theory), Scoring rule, Supply (economics), Guessing, Market trend, Speculation, Market exposure, Redemption value, The Wisdom of Crowds, Mechanism design, Risk aversion, Social dilemma, Bribery, Pricing, Economic surplus, Investment fund, Market liquidity, Buyback, Calculation, Cost curve, Power and Market, Nash equilibrium, Payment, Monopolistic competition, Market participant, Result, And Interest, Auction, Risk premium, Contract curve, Market value, Probability, Auction Market, Decision theory, Prospect theory, Share price, Utility, Expected value, Opportunity cost, Investment Advice, Purchase Price, Theory of Games and Economic Behavior, Market mechanism, Economics, Quantity, Market maker, Quantal response equilibrium, Behavioral game theory, Bid price, Incentive, Prediction, Acquisition Cost, Decision table, Adaptive expectations, Common value auction, Marginal utility, Supply and demand, Money market fund, Loss aversion, Alternative investment, Economic rent, Present value, Forecasting, Common-pool resource, Use value, Probability matching, Strategy (game theory), Prediction market, Price controls, Compound interest, Price floor, Currency, Endowment effect, Commodity, Bidding, P-value, Price premium, Combinatorial auction, Competitive equilibrium, Supracompetitive pricing, Coordination game, Profit maximization, Reservation price, Public expenditure, Value (economics), Put option, Decision-making, Traveler's dilemma, Market power, Program trading, Value Line, Demand curve, Investment, Relevant cost, Comparative advantage, Gains from trade, Expected utility hypothesis, Marginal cost, Vertical integration, Market integration