Experimental Economics Laboratory

University Of New Mexico, Albuquerque NM

Investigators

Abstract

Krause 0002633 The experimental lab at the University of New Mexico has been an integral part of the research infrastructure in the Department of Economics since installation of the lab in 1992. The department specializes in applied microeconomics, and the experiment lab has supported this research in a variety of substantive areas. A main focus of lab-based research has been to inform policy. This research has addressed issues in the fields of environmental economics, resource valuation, provision of public goods, and the effects of institutional structures on economic behavior. In addition to being a valuable faculty research resource, the lab has provided many graduate students with opportunities to work on large projects as well as to develop their own experimental research agendas. Computer technology has advanced enormously since the original lab was installed. One goal of this proposal is to allow faculty and graduate students in the department to continue the kinds of inquiries that were supported by the original lab. A second goal is to provide the necessary equipment to accommodate new experimental research projects. The equipment described in this proposal would provide an accessible, up-to-date computerized platform from which a variety of economic experiments could be run. Many of the projects described in the proposal are extensions of work performed in the original lab. Some of the projects open entirely new lines of inquiry. An up-dated lab would enhance the value of those projects by enabling the researchers to take advantage of the vast improvements in technology that have occurred in the last seven years. While most of the computer equipment in the lab needs replacing, the room itself and the furnishings are adequate to accommodate new computers. Installation of new computers will not require any new wiring, air conditioning or furnishings. The department has long-established procedures in place for managing experimental lab use. Therefore, the installation described in this proposal would take advantage of significant existing assets to establish a modern facility that would accommodate a wide variety of experimental research projects.