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Laboratory for Experimental Economics and Political Science |
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The Laboratory is devoted to the development
and applications of a laboratory experimental methodology for
a broad range of disciplines. Laboratory experimental research
began at Caltech in 1972 with the early experiments of Professor
Charles
R. Plott, who is the current Director of the Laboratory.
Laboratory research is focused on basic research issues, applied
research issues, and the development of supporting technology.
Basic science includes the principles of behavior of single
and multiple market systems in relation to parametric and institutional
settings; the principles of behavior in relation to voting and
political institutions; and the strategic behavior of game theory.
Applied research includes policy related research, the development
of prototype markets, smart markets, and the actual implementation
of new forms of markets.
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| • Social
Science Experimental Laboratory |
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This facility represents the state
of the art in experimental social sciences.
It is dedicated to research in: Experimental Economics, Experimental Game Theory,
Experimental
Political Science, Experimental Finance, Market Design, Computational Economics. .
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| • The
Turing Project |
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The Turing Tournament is a two sided
tournament designed to find, on the one hand, the best computer
programs to mimic human behavior, and on the other hand, the
best computer programs to detect the difference between machine
and human behavior.
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| • Caltech
Laboratory for Experimental Finance |
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This laboratory is dedicated to the
study of financial markets. Its goal is to understand the basic
principles, if there are any, behind the pricing, trading and
information aggregation in financial markets. It challenges the
pessimism expressed in Bachelier's quote that such markets defy
scientific inquiry.
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