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Experimental economic summary paper - Essay Example

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10 March 2011. One, Two, (Three), Infinity, … : Newspaper and Lab Beauty-Contest Experiments Summary: The research fundamentally evaluated the usability of newspapers as research tools. The researchers classified the explanations offered by the research participants for their respective choices of response, quantified the frequencies of explanations, and studied the patterns of reasoning which most past studies did not achieve…
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Experimental economic summary paper
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Experimental economic summary paper

It was found that the respondents were provided with much bigger rewards in the newspaper research as compared to the lab research. The research identified the existence of parallelism between the field and lab. The researchers also studied the thought processes of the research participants who were involved in the game. The respondents’ choice of subjects and comments were analyzed. In addition to that, the research conducted an in-depth analysis of the newspaper experiments and concluded that they are a potential means of conducting research and the response through newspapers is marvelous. One of the results of the research that I found quite interesting was the researchers’ increased confidence in the newspaper research. I personally think that the lab research is too hectic. Difficulty of approaching the required individuals is one potential factor that complicates the process of research and becomes a fundamental cause of the disinterest of many researchers in the process. ... Read More
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