Experimental economics is the use of experimental methods to evaluate theoretical predictions of economic behaviour.

It uses controlled, scientifically-designed experiments to test economic theories under laboratory conditions.

Typical empirical research is limited by the fact that only a subset of the set of all possible influences affect (or can be observed to be affecting) economic decision making; therefore, the ability to control for certain influences is limited or non-existent.

With experiments, economists can fix some inputs and measure the effects of other inputs in a way that allows ceteris-paribus comparisons.

For more information about the topic Experimental economics, read the full article at Wikipedia.org, or see the following related articles:

Macroeconomics — Macroeconomics is the economics sub-field of study that considers aggregate behavior, and the study of the sum of individual economic decisions. ...  > read more

Economics — Economics, as a social science, studies the production, distribution, and consumption of commodities. The field may be divided in several different ...  > read more

Microeconomics — Microeconomics is one of the main fields of the social science of economics. It considers the behaviour of individual consumers, firms and ...  > read more

Experiment — In the scientific method, an experiment is a set of actions and observations, performed in the context of solving a particular problem or question, ...  > read more

Editor's Note: This article is not intended to provide medical advice, diagnosis or treatment.

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