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Handbook of Experimental Economic Methodology$
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Guillaume R. Fréchette and Andrew Schotter

Print publication date: 2015

Print ISBN-13: 9780195328325

Published to Oxford Scholarship Online: March 2015

DOI: 10.1093/acprof:oso/9780195328325.001.0001

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Laboratory Experiments: Professionals Versus Students

Laboratory Experiments: Professionals Versus Students

Chapter:
(p.360) 17 Laboratory Experiments: Professionals Versus Students
Source:
Handbook of Experimental Economic Methodology
Author(s):

Guillaume R. Fréchette

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195328325.003.0019

This chapter establishes what is known about the impact of subjects typically used in experimental economics by reviewing prior studies that have used both the standard subject pool and an unusual pool of professionals. The papers are loosely organized in four thematic sections: other-regarding preferences, market experiments, information signals, and a miscellaneous group. The results overall suggest that, although there are situations where focusing on students is too narrow, in general the conclusions reached by using the standard experimental subject pool generalize to professionals. Nonetheless, studying professionals can prove insightful in ways that studying undergraduates is not.

Keywords:   experimental economics, laboratory experiments, field experiments, subject sample

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