The Experiment in the History of Economics (Routledge Studies in the History of Economics)

Throughout the history of economic ideas, it has often been asserted that experimentation is impossible, yet, in fact, history shows that the idea of ‘experimentation’ has always been important, and as such has been interpreted and put to use in many ways. Rich in historical detail, the essays in this topical volume deal with such issues as laboratory experimentation, the observed transition from a post-war economics to a contemporary discipline, the contrasting positions of Friedrich Hayek and Oskar Morgenstern, the socio-economic experiments proposed by Ernest Solvay and Knut Wicksell, and a rigorous examination of the way in which economic models can or cannot be construed as valid experiments producing useful knowledge. A testament to the variety of ways in which experimentation has been of importance in the creation of economic knowledge, these wide-ranging essays will interest those seeking to expand their historical understanding of the discipline, be they theorists, historians, philosophers, advanced students or researchers. Experimental Economic Games : The Early Years / Robert W. Dimand -- The Allais Paradox And Its Immediate Consequences For Expected Utility Theory / Sophie Jallais And Pierre-charles Pradier -- Experimentation, General Equilibrium And Games / S. Abu Turab Rizvi -- Thought- And Performed Experiments In Hayek And Morgenstern / Alessandro Innocenti And Carlo Zappia -- Social Comptabilism And Pure Credit Systems : Solvay And Wicksell On Monetary Reform / Mauro Boianovsky And Guido Erreygers -- The Vanity Of Rigour In Economics : Theoretical Models And Galilean Experiments / Nancy Cartwright. Edited By Philippe Fontaine And Robert Leonard. Includes Bibliographical References And Index. BookCover......Page 1 Half-Title......Page 2 Title......Page 10 Copyright......Page 11 Contents......Page 12 Contributors......Page 13 Acknowledgements......Page 16 Introduction......Page 18 1 Experimental economic games......Page 21 2 The Allais Paradox and its immediate consequences for expected utility theory......Page 38 3 Experimentation, general equilibrium and games......Page 60 4 Thought- and performed experiments in Hayek and Morgenstern......Page 79 5 Social comptabilism and pure credit systems......Page 103 6 The vanity of rigour in economics......Page 135 Index......Page 152 Annotation Testament to the variety of ways in which 'experimentation' has been important in the creation of economic knowledge, this wide-ranging collection of essays will interest those seeking to expand their historical understanding of the discipline.