Master
2026/2027
Experimental Economics
Type:
Elective course (Economics and Economic Policy)
Delivered by:
Department of Theoretical Economics
Where:
Faculty of Economic Sciences
When:
1 year, 4 module
Open to:
students of all HSE University campuses
Language:
English
ECTS credits:
3
Contact hours:
36
Course Syllabus
Abstract
Experimental economics is a field of economics that aims to study economic behaviors by conducting controlled experiments. It involves setting up a controlled environment to observe how individuals behave under specific conditions and then using this information to test economic theories. Researchers and policymakers can benefit from the findings of experimental economics studies by gaining a deeper understanding of human decision-making, market dynamics, and policy formulation. This course prioritizes student-led paper presentations and discussions, structured into two segments. First, it focuses on methodological foundations, including experimental design (lab, field, and natural experiments), ethical considerations, randomization techniques, and data analysis. Second, it examines applications of experiments to study preferences, market dynamics, and discrimination, with case studies on policy-relevant topics such as nudges, market interventions, and behavioral insights in institutional design. Students will develop skills in designing, critiquing, and replicating experiments while engaging with both foundational and contemporary research, preparing them to contribute to academic inquiry and evidence-based policy solutions.
Learning Objectives
- Understand the principles and methodologies of experimental economics
- Develop proficiency in designing, implementing, and analyzing controlled experiments
- Critically evaluate experimental studies
- Explain how experimental methods have contributed to economics.
- Explain the overall importance of field experiments to the discipline of economics.
Expected Learning Outcomes
- Distinguish normative theory from behavioral economics in explaining economic decisions.
- Trace the historical development of experimental methods, from game theory foundations to modern applications.
- Evaluate the roles of internal and external validity in designing and interpreting experiments.
- Apply the induced value method to design incentive-compatible experiments (monotonicity, salience, dominance).
- Assess trade-offs in subject selection, including student pools, cultural diversity, and the rejection of deception.
- Mitigate experimenter demand effects through neutral framing, double-blind protocols, and careful instruction design.
- Choose appropriate experimental designs (within- vs. between-subject, real-effort tasks) based on research questions and validity concerns.
Assessment Elements
- Paper PresentationEach student will deliver a presentation on an assigned paper, concisely summarizing its research question, methodology, key findings, and critical contributions, followed by a Q&A session where peers and the instructor pose clarifying or probing questions. The presentation is a mandatory component of the course. All students must complete a presentation to successfully fulfill the course requirements. Rescheduling: Students who are unable to attend their assigned presentation date must obtain prior approval from the instructor and reschedule one week prior the presentation date. The presentation by each student must complete before the exam week of Module 4.
- Examination
- ParticipationParticipation reflects your active engagement in the course. Regular attendance is expected, and students are encouraged to contribute meaningfully to class discussions by asking questions, sharing insights, or building on peers' ideas during sessions they attend.
- EssayThe term paper requires students to design an original experimental economics research proposal. Applying course methodologies, the paper must include a literature review identifying a specific research gap, a primary research question, a proposed theoretical model, and a comprehensive study design. Additionally, students must outline the experimental methodology and discuss expected results and their broader implications.
Interim Assessment
- 2026/2027 4th module0.15 * Participation + 0.25 * Examination + 0.2 * Essay + 0.4 * Paper Presentation
Bibliography
Recommended Core Bibliography
- An introduction to behavioral economics, Wilkinson, N., 2012
- Methods in experimental economics : an introduction, Weimann, J., 2019
Recommended Additional Bibliography
- Nudge : improving decisions about health, wealth and happiness, Thaler, R. H., 2009
- The handbook of experimental economics, , 1995
- The handbook of experimental economics. Vol.2: ., , 2015