John Kagel no relation experimental economics
Experimental Economics
Roth is one of the early pioneers of experimental economics and has made several fundamental contributions to the field starting from the early 1970s. Roth's approach to experiments expanded the possibilities of economic experiments could be and ushered in an approach open to influence by other social sciences as well as game theory. Unlike earlier experimental work by Vernon Smith, Charles Plott, and others, Roth and his coauthors appealed to sociological and psychological concepts to explain how subjects deviated from rationally predicted outcomes right from the start. His early work "was rigorous in its specification of what economic models predicted and was rooted in formal economic theories, yet provided accurate and insightful descriptions of actual behavior based on psychology and sociology." The Scientific Background document for the 2012 Nobel Prize in Economics states: Roth describes how laboratory experiments and field observations can interact with game theory, thereby establishing economics as a more satisfactory empirical science. Besides contributing to some laboratory game designs that has become standard (for example, along with his early collaborator the psychologist J. Keith Murnighan, Roth designed a repeated-game experiment in which there was a fixed probability that each period of play would be the last, providing researchers with a tool to study infinitely repeated games in the laboratory). Roth has also outlined methodological issues that both producers and consumers of experimental research must consider in interpreting experimental results and published the full datasets of his experiments while the field was still in its nascency, laying the groundwork for much of the metascience debates regarding experiments in economics.Roth also edited two volumes of the Handbook of Experimental Economics with John Kagel.
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