Topics in Experimetrics

Lecturer: Professor Peter Moffatt (University of East Anglia, Norwich, UK)
Date: June 7, 2016 – June 9, 2016
Venue: Otto von Guericke University Magdeburg, Faculty of Economics and Management, Universitätsplatz 2, 39106 Magdeburg, Building 22, room A-225 (Fakultätszentrum)
Registration: Please contact Sabine Wolf, E-mail: sabine.wolf@ovgu.de, until May 10, 2016.

Students are expected to use STATA during the course. When registering, please indicate whether you will be able to bring you own laptop with STATA installed for the course.

The course is limited to 20 participants.

Announcement see pdf

Course Description

The course covers a range of essential techniques within the subject of Experimetrics (the econometric analysis of data from economic experiments). The course commences with some basic techniques relating to treatment testing, and progresses, through regression and multi-level modelling, discrete data models some of which require the ML routine in STATA, and mixture models, to consider some advanced techniques that are required in the estimation of structural economic parameters (e.g. risk aversion parameters; social preference parameters) from experimental data. Throughout the course, an emphasis is placed on the perennial issue of between-subject heterogeneity. Discrete heterogeneity is handled using the finite mixture modelling approach; continuous heterogeneity using the method of maximum simulated likelihood. All techniques are demonstrated using STATA programs, and either real or simulated data sets. All STATA code is explained in detail.

Prerequisites

The course is mainly aimed at researchers in Experimental Economics who are keen to expand their horizons with regard to the econometric analysis of their data. Students should be familiar with the most popular types of economics experiments (dictator game, ultimatum game, public goods game), have basic knowledge of econometrics and have some familiarity with STATA.

Schedule

June, 7, 2016
11:00 – 12:30  Treatment Testing 1
13:30 – 15:00 Treatment Testing 2
15:30 – 17:00 Theory Testing
17:30 Dinner (at your own expense)

June, 8, 2016
09:00 – 10:30 Discreteness in Experimental Data
11:00 – 12:30 Finite Mixture Models in Experimetrics
13:30 – 15:00 Method of Simulated maximum Likelihood (MSL)
15:00 – 17:00 Research Colloquium

June, 9, 2016
09:00 – 10:30 Estimation of Models of Choice under Risk
11:00 – 12:30 Estimation of Social Preference Models
13:30 – 15:00 Analysis of data from repeated games
15:30 – 17:00 Loose Ends

Course requirements
The course concludes with a 90 minute test to be taken a week after the course at the students’ home institutions.