The minimax argument represents game theory in its most elegant form: simple but with stark predictions. Although some of these predictions have been met with reasonable success in the field, experimental data have generally not provided results close to the theoretical predictions. In a...

This special issue highlights an empirical approach that has increasingly grown in prominence in the last decade—ï¬eld experiments. While ï¬eld experiments can be used quite generally in economics—to test theories’ predictions, to measure key parameters, and to provide...

This paper discusses voluntary contributions to health education in a shanty town in Peru, using a new experimental setup to identify voluntary contributions to local public goods. The experiment enables individuals to contribute to a health education meeting, which will only continue if the...

This paper estimates the risk preferences of cotton farmers in Southern Peru, using the results from a multiple-price-list lottery game. Assuming that preferences conform to two of the leading models of decision under risk - Expected Utility Theory (EUT) and Cumulative Prospect Theory (CPT)- we...

This study presents an overview of modern field experiments and their usage in economics. Our discussion focuses on three distinct periods of field experimentation that have influenced the economics literature. The first might well be thought of as the dawn of ""field"" experimentation: the work...