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The Methodology of Experimental Economics
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The experimental approach in economics is a driving force behind some of the most exciting developments in the field. The 'experimental revolution' was based on a series of bold philosophical premises which have remained until now mostly unexplored. This book provides the first comprehensive analysis and critical discussion of the methodology of experimental economics, written by a philosopher of science with expertise in the field. It outlines the fundamental principles of experimental inference in order to investigate their power, scope and limitations. The author demonstrates that experimental economists have a lot to gain by discussing openly the philosophical principles that guide their work, and that philosophers of science have a lot to learn from their ingenious techniques devised by experimenters in order to tackle difficult scientific problems.
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Table of Contents

1. Introduction; Part I. Inferences within the Experiment: 2. Inside the laboratory; 3. Hypothesis testing; 4. Causation and experimental control; 5. Prediction; 6. Elimination; Part II. Inferences from the Experiment: 7. External validity; 8. Economic engineering; 9. From the laboratory to the outside world; 10. Experiments as mediators; 11. On monetary incentives.

About the Author

Francesco Guala is Senior Lecturer in Philosophy, Department of Sociology and Philosophy, University of Exeter, UK. He has also taught at Imperial College London and the University of Cergy-Pontoise, France, and serves as an external research associate of the Centre for Philosophy of the Natural and Social Sciences, London School of Economics. Dr Guala has published extensively in philosophy and social science journals, including Philosophy of Science, Studies in the History and Philosophy of Science, Economics and Philosophy, Journal of Economic Methodology, Cambridge Journal of Economics, Journal of Theoretical Politics, and Behavioral and Brain Sciences. He won the INEM (International Network for Economic Methodology) Prize in 2001 for best article on the methodology of economics written by a young scholar and, in the same year, won the History of Economic Analysis Award for best article on the history of economic thought written by a young scholar.

Reviews

'... effectively mixes a descriptive and a normative approach.' History of Economic Ideas 'This is a book that sorely needed to be written, and the experimental economics community should be grateful that Guala was the one to do it.' Journal of Economics and Philosophy "I can hardly imagine a better exercise in intellectual ground clearing for debates in experimental and behavioural economics than Guala's book, and I recommend it highly.' Journal of Economics and Philosophy '... Guala has produced what I expect will become a classic in the philosophy of economics, and one of the most useful books in general philosophy of science we will see this decade.' The British Journal for the Philosophy of Science

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