Wednesday, January 2, 2008
“Understanding Liberty and Choice: The Contributions of Experimental Economics” - Sept. 26-28
This conference on experimental economics would include thirty participants drawn from the Foundation for Teaching Economics’ Professional Teacher Association membership. The conference would be a modified repeat of a conference we previously co-sponsored with the Foundation for Teaching Economics. The goal of the conference would be to introduce a group of outstanding teachers to the classical underpinnings of experimental economics and its theory and current practice. The program would also give these participants the opportunity to discuss, in detail, the nature of experimental economics and its relation to issues of liberty and responsibility with professional researchers in the field.
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Understanding Liberty and Choice:
The Contributions of Experimental Economics
Conference Schedule
Friday
4:00 – 4:30 pm Welcome and Introductions
4:30 – 6:00 pm Experiment Session 1: Prof. Bart Wilson, Chapman Univ.
Double Oral Auction (mobile lab)
6:00 – 7:00 pm Reception
7:00 pm Dinner
Saturday
8:00 – 9:30 am Seminar Session 1
Experimental Precursors: Adam Smith
Readings:
• Adam Smith, Theory of Moral Sentiments
o “Of the Sense of Propriety”
o “Of the Character of Virtue”
• Adam Smith, Wealth of Nations
o “Of the Division of Labor”
• Vernon Smith: “The Two Faces of Adam Smith,” Southern Economic Journal
9:30 – 9:45 am Break (prepare to leave for Chapman lab)
9:45 – 12:30 Experiment Session 2: Specialization & Exchange
participants bused to Chapman experimental econ lab and
returned to hotel by 12:30
12:30 Lunch
4:45 – 6:15 pm Seminar Session 2
Experimentation in Economics
Readings:
• Vernon Smith, “Economics in the Laboratory”, Journal of Economic Perspectives
• Vernon Smith, “Theory, Experiment and Economics”, Journal of Economic Perspectives
• Friedrich Hayek, “The Use of Knowledge in Society”, American Economic Review
6:15 Reception
7:00 pm Dinner
Sunday
8:30 – 9:30 am Seminar Session 3
Vernon Smith
Readings:
• “Vernon Smith on Markets and Experimental Economics”. EconTalk podcast interview with Russell Roberts (May 21, 2007) (+/- 1 hr.)
• Vernon Smith, “Human Nature: An Economic Perspective”, Daedalus
9:30 – 9:45 am Break
9:45 - 11:15 Experiment Session 3:
Personal Exchange
mobile lab at hotel
11:15 – 12:15 pm Lunch
12:30 – 2:00 pm Seminar Session 4
Assessing the Contributions of Experimental Economics
• George Loewenstein, Experimental Economics from the Vantage-Point of Behavioral Economics”, The Economic Journal
• Chris Starmer, “Experimental Economics: Hard Science or Wasteful Thinking?”, The Economic Journal
• Vernon Smith, “Experimental Economics: Reply”, American Economic Review
2:00 – 2:30pm Closing and Program
Tentative readings
Exp Econ – Los Angeles
Adam Smith, “Of the Sense of Propriety” and “Of the Character of Virtue”, The Theory of Moral Sentiments (Liberty Fund: Indianapolis)
Adam Smith, “Of the Division of Labor”, An Inquiry Into the Nature and Causes of the Wealth of Nations (Liberty Fund: Indianapolis)
Vernon Smith, “The Two Faces of Adam Smith”, Southern Economic Journal.
Vernon Smith, “Economics in the Laboratory”, Journal of Economic Perspectives
Vernon Smith, “Theory, Experiment and Economics”, Journal of Economic Perspectives
Friedrich Hayek, “The Use of Knowledge in Society”, American Economic Review.
Vernon Smith, “Human Nature: An Economic Perspective”, Daedalus;
“Vernon Smith on Markets and Experimental Economics”. EconTalk podcast interview with Russell Roberts, May 21, 2007. (one hour audio)
George Lowenstein, “Experimental Economics from the Vantage-Point of Behavioral Economics”, The Economic Journal; Vol. 109, Feb 1999, pp. 25-34
Chris Starmer, “Experimental Economics: Hard Science or Wasteful Tinkering?”, The Economic Journal, vol. 109, Feb, 1999. pp. 5-15
Vernon Smith, “Experimental Economics: Reply”, American Economic Review.
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