CDR: Experimental Economics (was Re: Edupage, October 2 2000)

[Jim Choate]

    ____________________________________________________________________

                     He is able who thinks he is able.

                                           Buddha

       The Armadillo Group       ,::////;::-.          James Choate
       Austin, Tx               /:'///// ``::>/|/      ravage at ssz.com
       www.ssz.com            .',  ||||    `/( e\      512-451-7087
                           -====~~mm-'`-```-mm --'-
    --------------------------------------------------------------------

On Tue, 3 Oct 2000, R. A. Hettinga wrote:

> At 5:44 PM -0600 on 10/2/00, EDUCAUSE wrote:
> 
> 
> > HOW ECONOMISTS HELP PREDICT BEHAVIOR ONLINE
> > Experimental economics, which has been long been viewed as
> > impractical, is now being deemed relevant due to the rise of the
> > Web.  Experimental economists use data to predict market
> > behavior, and are increasingly attracting attention from U.S.
> > business schools, the FCC, and businesses such as IBM and
> > Hewlett-Packard.  IBM has opened an experimental-economics lab,
> > which Robert Baseman, IBM's senior research manager, says will
> > help clients develop and deploy their e-markets.  University of
> > Arizona professor Vernon Smith, who uses an experimental
> > economics game to study trust relationships, says that such
> > exercises connect to IBM's e-business focus.  Smith, who spoke at
> > the dedication of IBM's experimental lab, says that the anonymity
> > of the Internet and e-commerce calls for reputation-building
> > systems to enable trust-based trading.
> > (Wall Street Journal, 02 October 2000)
> 
> -- 
> -----------------
> R. A. Hettinga <mailto: rah at ibuc.com>
> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
> 44 Farquhar Street, Boston, MA 02131 USA
> "... however it may deserve respect for its usefulness and antiquity,
> [predicting the end of the world] has not been found agreeable to
> experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
>