The Early Development of Experimental Economics: The Influence of Game Theory

Working Paper No. 287

22 Pages Posted: 15 Nov 2000

See all articles by Alessandro Innocenti

Alessandro Innocenti

University of Siena - Labsi Experimental Economics Laboratory; University of Siena - Department of Social, Political and Cognitive Sciences

Date Written: April 2000

Abstract

An historical overview of experimental economics points out significant analogies between its origins and the contemporary emergence of game theory. In both cases, their effective introduction in economics was postponed until the 1960s. Such a delay cannot be ascribed to the supposed division between empirical and theoretical work but to the fact that in the 1950s experimental methodologies, such as game theory, were mainly developed by scholars of other social sciences which forced a re-examination of the prevailing postulates of economic theory. This interdisciplinary community gave rise to two different approaches: the socio-psychological one represented by experimental games, and the economic-managerial one represented by business games. Although both approaches were an outgrowth of game theory, the prevalence of the first had important consequences on subsequent developments.

JEL Classification: B21, C70, C90

Suggested Citation

Innocenti, Alessandro, The Early Development of Experimental Economics: The Influence of Game Theory (April 2000). Working Paper No. 287, Available at SSRN: https://ssrn.com/abstract=238777 or http://dx.doi.org/10.2139/ssrn.238777

Alessandro Innocenti (Contact Author)

University of Siena - Labsi Experimental Economics Laboratory ( email )

Piazza Mattioli 10
Siena, Siena 53100
Italy

HOME PAGE: http://www.labsi.org

University of Siena - Department of Social, Political and Cognitive Sciences ( email )

Via Roma 56
Siena, Siena I-53100
Italy
39 338 5724318 (Phone)
39 0577 232793 (Fax)

HOME PAGE: http://www.labsi.org/innocenti/

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