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- 工学院，物質理工学院，環境・社会理工学院共通科目
- Liberal arts and basic science courses
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School of Environment and Society
- Department of Architecture and Building Engineering
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- Graduate major in Technology and Innovation Management
- Common courses
- Liberal arts and basic science courses
- Academic unit or major
- Undergraduate major in Industrial Engineering and Economics
- Instructor(s)
- Yamato Takehiko Yamamura Hirohumi
- Class Format
- Lecture / Exercise
- Media-enhanced courses
- Day/Period(Room No.)
- Intensive ()
- Group
- -
- Course number
- IEE.B206
- Credits
- 2
- Academic year
- 2016
- Offered quarter
- 4Q
- Syllabus updated
- 2017/1/11
- Lecture notes updated
- -
- Language used
- Japanese
- Access Index
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Course description and aims
Outline:
In this course, we lecture on experimental methods of testing economic theoretical predictions. The course is divided into three main topics: "Market," "Game," and "Mechanism Design." For each topic, we begin with an experiment followed by an explanation of the economic theoretical predictions in the experiment. Finally, each group of students is asked to analyze the experimental data and give a presentation of the analysis.
Aim:
In economics, in order to analyze several economic phenomena, a human being is assumed to be a "homo economicus" that is rational and selfish. However, human beings in reality may not be so rational or selfish as is typically assumed. For example, some people may envy the wealthy, while some may feel sympathy towards those not as fortunate. On the other hand, a "homo economicus" is free of such feelings and cares only about his/her own interest.
Such difference between a "homo economicus" and a human being in reality may cause a big gap between theoretical predictions and economic phenomena in reality. Conducting economic experiments is crucial in grasping the extent of this gap. The purpose of this class is for students to develop the viewpoint of comparing the economic theory and reality through economic experiments.
Student learning outcomes
At the end of this course, students will be able to:
(1) Conduct an economic experiment by themselves.
(2) Analyze and interpret the experimental data.
(3) Compare the experimental results with the economic theoretical predictions.
Keywords
Economic Experiment, Market, Equilibrium, Behavioral Game Theory, Mechanism Design
Competencies that will be developed
| ✔ Specialist skills | Intercultural skills | ✔ Communication skills | ✔ Critical thinking skills | ✔ Practical and/or problem-solving skills |
Class flow
The course is divided into three main topics: "Market," "Game," and "Mechanism Design." For each topic, we begin with an experiment followed by an explanation of the economic theoretical predictions in the experiment. Finally, each group of students is asked to analyze the experimental data and give a presentation of the analysis. Students must attend the first class to determine the group assignments.
Course schedule/Required learning
| Course schedule | Required learning | |
|---|---|---|
| Class 1 | Market (1) Market Experiment | Explain how to conduct a market experiment |
| Class 2 | Market (2) Market Equilibrium (Theory) | Explain the theory of a market equilibrium |
| Class 3 | Market (3) Stability of Market Equilibria (Theory) | Explain the theory of the stability of market equilibria |
| Class 4 | Market (4) Exercise | Solve the exercises on the theory of a market equilibrium |
| Class 5 | Market (5) Feedback on the Market Experiment | Analyze the data on the market experiment |
| Class 6 | Behavioral Game Theory (1) Game Experiment | Explain how to conduct a game experiment |
| Class 7 | Behavioral Game Theory (2) Inequality Aversion (Theory) | Explain the theory of inequality aversion |
| Class 8 | Behavioral Game Theory (3) Reciprocity (Theory) | Explain the theory of reciprocity |
| Class 9 | Behavioral Game Theory (4) Exercise | Solve the exercises on behavioral game theory |
| Class 10 | Behavioral Game Theory (5) Feedback on the Game Experiment | Analyze the data on the game experiment |
| Class 11 | Mechanism Design (1) Mechanism Experiment | Explain how to conduct a mechanism experiment |
| Class 12 | Mechanism Design (2) Dominant Strategy Implementation (Theory) | Explain the theory of dominant strategy implementation |
| Class 13 | Mechanism Design (3) Nash Implementation (Theory) | Explain the theory of Nash implementation |
| Class 14 | Mechanism Design (4) Exercise | Solve the exercises on mechanism design |
| Class 15 | Mechanism Design (5) Feedback on the Mechanism Experiment | Analyze the data on the mechanism experiment |
Textbook(s)
No textbook is set. All materials used in this class can be accessed using the OCW.
Reference books, course materials, etc.
All materials used in this class can be accessed using the OCW.
Assessment criteria and methods
Group presentation (50％) and Report (50％).
There may be a final exam, if there is a large number of students taking this course.
Related courses
- IEE.B201 ： Microeconomics I
- IEE.B202 ： Microeconomics II
- IEE.B205 ： Noncooperative Game Theory
Prerequisites (i.e., required knowledge, skills, courses, etc.)
Completion of Microeconomics (I and II) and Noncooperative Game Theory is recommended.
