Even just a slight increase in the willingness to save more can produce a lot more capital, and eventually a much richer society, Harbaugh says. Harbaugh says he and Krause learned early on that you can't conduct experiments on children in the same way that you do with adults. Harbaugh says kids love the experiments. They are totally into it because they are used to playing games and the rewards are appealing. Tim Berry , an undergraduate economics major who assists Harbaugh with his research, has observed that children are much more willing subjects than adults.
Children are excited to be involved in the experiment.
They also seem to be very interested in the results of the experiment and the implications of these results. Berry's paid position as one of Harbaugh's assistants is the result of the NSF grant Harbaugh received last year, which includes funds to provide research experiences for undergraduates. Each year, Harbaugh is able to hire three to four undergraduates to help conduct experiments in area schools. Students study the concepts that interest them the most, and work with Harbaugh to design an experiment focused on their interest. This hands-on participation gives students unique opportunities to contribute to the field of economics.