Laboratory Experiments: Professionals Versus Students
39 Pages Posted: 5 Oct 2011 Last revised: 13 Oct 2011
Date Written: October 5, 2011
This paper reviews experiments that include two types of subjects: professionals and students. The typical subject pool for economic experiments is composed of students. Professionals are loosely defined as people working in an industry where the game under study is thought to be relevant. The experiments considered in the review had to use standard experimental procedures. Furthermore, only experiments where the authors gave theoretical predictions are included. Overall, results from those studies lead to similar conclusions (with respect to how the behavior of subjects conform to the comparative static predictions of the theory) for both the usual subject pool and for professionals.
Keywords: Subject pool, experiments, professionals, students
JEL Classification: C90
Suggested Citation: Suggested Citation