This paper begins with the interplay of the induced value theory and the Hayek hypothesis, and subsequently suggests that we need to understand Vernon Smith's experimental method as not simply empirical, but encompassing a commitment to a special version of neoclassical demand theory. To this...

Thanks to the recent studies of the history and philosophy of experimental economics, it is well known that around the early 1980s, experimental economists made a case for the legitimacy of their laboratory work by emphasizing that it was a nice and indispensable complement to mechanism design...

Thanks to the recent studies of the history and philosophy of experimental economics, it is well known that around the early 1980s, experimental economists made a case for the legitimacy of their laboratory work by emphasizing that it was a nice and indispensable complement to mechanism design...

A review essay on Philippe Fontaine and Robert Leonard (eds), The Experiment in the History of Economics, London and New York, Routledge, 2005, pp. xiii+158.

<title>Abstract</title> This paper elucidates experimental economists' recent attempts to link their laboratory endeavours to the realm of policies. To be concrete, by concentrating on some of the well-known policy-related works conducted by three thriving research programs in experimental economics, this...