Information Sheet - Experimental Economics - a tool helping policy makers with decisions

Hub Publication

Experimental economics is an important and growing field in which the underlying principles of economics are explored under laboratory conditions. Researchers and policy makers throughout the world use experimental economics to evaluate theories and behavioural assumptions, as well as testing policies and their implementation.Lab experiments offer policy makers a quick, cost effective way to identify market and policy flaws before ideas and theories become major public policy initiatives.

The NERP funded Landscapes and Policy Research Hub is using experimental economics to evaluate the theory and application of economics to environmental and resource management issues.

Notes: 
The Landscapes and Policy Research Hub ran an information and demonstration workshop for policy people in the Department of Sustainability, Environment, Water, Population and Communities (15 November 2012). The workshop demonstrated an economic experiment where policy people were involved in the creation of wildlife corridors through a reverse auction process. The information sheet was first developed in support of the workshop.

Bibliography Entry

Type of Publication Miscellaneous
Year of Publication 2012
Authors Tisdell J
This page was last updated on December 9, 2013