The National Centre for Econometric Research (NCER) will hold a short course in Experimetrics on Monday 20 July and Tuesday 21 July in Z850 with Professor Peter Moffatt.

Times

Monday 20 July - 12pm to 5pm
Tuesday 21 July - 9am to 12pm

Location

This short course will be held in room Z850, Z Block, Gardens Point Campus, Queensland University of Technology, Brisbane.

Course Convener

Professor Peter Moffatt, from the University of East Anglia

Course

PART I: Theory Testing, regression, and dependence

  1. Introduction
  2. Experimental Auctions
    2.1. Overview of auction theory
    2.2. Carrying out an experimental auction
    2.3. The simulated auction data
  3. Tests of auction theory
    3.1. A test of RNNE in a second price common value auction
  4. Tests of comparative static predictions
    4.1. Standard treatment tests
    4.2. Treatment testing using a regression
    4.3. Accounting for dependence: the ultra-conservative test
    4.4. Accounting for dependence in a regression
    4.5. Accounding for dependence: the block bootstrap
  5. Multiple regression with auction data
    5.1. Introducing the effect of uncertainty
    5.2. Introducing the effect of experience
    5.3. Introducing the effect of cash balance
  6. Panel data estimators
    6.1. Random effects versus fixed effects
  7. Multi-level modelling
  8. Modelling data from contest experiments
    8.1. The Tullock contest
    8.2. A contest experiment
    8.3. Analysis of data from a contest experiment
  9. Meta Analysis

PART II: Dealing with heterogeneity: Finite Mixture Models

  1. Introduction
  2. Mixture of two normal distributions
  3. The fmm command in STATA
  4. The level-k model for the “beauty contest game”
  5. A public goods experiment
    14.1. Background
    14.2. Experiment
    14.3. data
    14.4. The finite mixture 2-limit tobit model with tremble
    14.5. Program
    14.6. Results
    14.7. Posterior Type Probabilties

Course files

Experimetric course files (zip, 168kb)

Preliminary Reading

Kagel, J. H., & Levin, D. (1986). The winner's curse and public information in common value auctions. The American economic review, 894-920.

Kagel, J. H., Levin, D., & Harstad, R. M. (1995). Comparative static effects of number of bidders and public information on behavior in second-price common value auctions. International Journal of Game Theory, 24(3), 293-319.

Ham, J. C., Kagel, J. H., & Lehrer, S. F. (2005). Randomization, endogeneity and laboratory experiments: The role of cash balances in private value auctions. Journal of Econometrics, 125(1), 175-205.

Chowdhury, Subhasish M., Roman M. Sheremeta, and Theodore L. Turocy. (2014) "Overbidding and overspreading in rent-seeking experiments: Cost structure and prize allocation rules." Games and Economic Behavior 87: 224-238.

Sheremeta, Roman M. (2013) "Overbidding and heterogeneous behavior in contest experiments." Journal of Economic Surveys 27.3: 491-514.

Bosch-Domènech, A., Montalvo, J. G., Nagel, R., & Satorra, A. (2010). A finite mixture analysis of beauty-contest data using generalized beta distributions. Experimental economics, 13(4), 461-475.

Runco, M. (2013). Estimating depth of reasoning in a repeated guessing game with no feedback. Experimental Economics, 16(3), 402-413.

Bardsley, N., & Moffatt, P. G. (2007). The experimetrics of public goods: Inferring motivations from contributions. Theory and Decision, 62(2), 161-193.

Enquiries and Registration

This course is free-of-charge for members of our Institution Partners, however there is a cost involved for other participants.

Register to attend

For further details please contact the NCER Administration Coordinator:

Angela Fletcher
Queensland University of Technology
Email: a.fletcher@qut.edu.au