Laboratory for Experimental Economics

The Laboratory for Experimental Economics is a research facility where economists study how people make decisions related to money, markets, and policies. Using controlled, real-time experiments with volunteers, researchers observe behaviors such as cooperation, competition, and trust. This helps to understand economic theories and predict real-world economic activity. The lab provides valuable insights into human decision-making processes, informing better policies and business strategies. It combines psychology and economics to explore how individuals and groups behave in economic situations, contributing to more effective economic models and interventions.