ABOUT

The Department of Economics sponsors an Experimental Economics Laboratory, located in the basement of Monroe Hall. University students participate in computer-based experiments that are used to study behavior in auctions, games, and other strategic settings.

The VEcon lab Software is used for about 50 web-based experiments. These experiments evaluate behavioral reactions to varying levels of information, opportunities to negotiate, and changing prices to name a few. In order to better model actual market behavior, student participants receive real cash payments based on the decisions they make in the experiments.

The Lab is supervised by Charles Holt in collaboration with a team of experimental economists with the assistance of student research assistants.