Research Description of the Experimental Economics Group
The „Experimental Economics Group“ is a newly founded group (October, 2017) which focuses on using experimental methods – both in the lab and in the field - to study a broad variety of questions that are relevant for society. Among others, three areas of research are particularly important. First, the group studies how economic preferences develop in chidlhood and adolescence. This area includes investigating the factors that determine the economic preferences of young people, and devising interventions to shape behavior in a way that promotes success in life. Second, the group is interested in the provision of credence goods. Markets for credence goods (e.g., repair of medical services) are characterized by information asymmetries between expert sellers and customers, which opens the door to fraudalent behavior. The group examines the conditions for the honest and efficient provision of such goods. Third, the group focuses on how fairness concerns and social norms promote efficient social interactions. Here, the group concentrates on understanding the role of fairness, honesty and other determinants as a prerequisite for mutually beneficial social interactions.