Experiments and Economic Development: Lessons from Field Labs in the Developing World

Juan-Camilo Cardenas and Jeffrey Carpenter

Middlebury College Working Paper Series from Middlebury College, Department of Economics

Abstract: Along with the traditional primitives of economic development (material preferences, technology, and endowments), there is a growing interest in exploring how psychological and sociological factores (e.g., bounded rationality, norms, or social preferences) also influence economic decisions, the evolution of institutions, and outcomes. Simultaneously, a vast literature has arisen arguing that economic experiments are important tools in identifying and quantifying the role of institutions, socialnorms and preferences on behavior and outcomes. Reflecting on our experience conducting experiments in the field over more than five years, we survey the growing literature at the intersection of these two research areas. Our review has four components. In the introduction we set the stage identifying a set of behavioral factors that seem to be central for understanding growth and economic development./ We then divide the existing literature in two piles: standard experiments conducted in the field and on how to econometrically identify sociological factors in experimental data. We conclude by suggesting topics for future research.

Keywords: experimental economics; behavioral economics; institutions; social preferences; poverty; development (search for similar items in EconPapers)
JEL-codes: C9 O1 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2005-05
New Economics Papers: this item is included in nep-afr, nep-cbe, nep-dev, nep-exp and nep-hpe
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Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:mdl:mdlpap:0505

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