Leading economists converge on Christchurch
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| Nigel Healey pictured | Pictured left to right: Dr Steve Tucker & Dr Maros Servatka |
Leading economists from around the world gathered in Christchurch last week for the 4th Australian Workshop on Experimental Economics, held at the University of Canterbury.
The workshop was organised by Dr Maroš Servátka and Dr Steven Tucker, experimental economists from the university’s Department of Economics and Finance.
Dr Maroš Servátka says the gathering on December 18 and 19 positions the University of Canterbury as one of the world’s hubs for this relatively new field of economics.
Experimental economics uses controlled experiments, normally within a laboratory setting, to study economic behaviour.
"One of the many benefits of experimental economic methodology is that we can test different types of financial crises as well as mechanisms to counteract those events before they ever happen in the real world," Dr Tucker says.
The organisers were thrilled that the workshop had attracted the current president of Economic Science Association (the main professional organisation gathering experimental economists), Professor Tim Cason from Purdue University, along with the past president of the ESA, Professor James C. Cox, from Georgia State University and other famous economists.
Topics presented during the two day workshop included the current financial meltdown and creation of asset bubbles, market institutions and the effect they might have on the behaviour of firms and consumers, negotiations regarding the level of investment and the split of the profit it generates, and altruistic behaviour by individuals.
Pro-Vice-Chancellor Professor Nigel Healey said the College of Business and Economics was delighted to be hosting the workshop.
"In recent years, the College has developed significant research capability in the area of experimental economics and now has a strong team of talented young researchers. Hosting such an impressive roll call of leading experimental economists from around the world at this year’s workshop demonstrates that our group is one of the largest and most active in Australasia," Professor Healey said.
To underpin their continuing success, the university is establishing the New Zealand Experimental Economics Laboratory (NZEEL), a purpose-built experimental economics laboratory with an observation room and privacy screening around each cubicle.
NZEEL will be the main experimental economic research centre within New Zealand, one of the leading experimental economic research hubs in Australasia, and a major player worldwide. NZEEL will trial projects; connect UC research to the private sector; attract distinguished international academics as research visitors; and attract Masters/PhD students from other universities and post-docs as they want to be taught by and collaborate with the best in the field in these areas.
Other activities by the UC experimental group included editing a special issue of the New Zealand Economic Papers journal on experimental economics, a series of publications in top economics scientific journals, visits by renowned experimentalists to the department (including preparation for 2010 Condliffe Lecture by one of the founding fathers of experimental economics Professor Charles Plott) and organisation of sessions by its members in international conferences held overseas.
- Visit the workshop website here
- Read Alan Wood's article from the The Press.
