An Experimental Test of an Optimal Growth Model

  • 研討會日期 : 2002-07-30
  • 時間 : 15:00
  • 主講人 : 雷文潔教授
  • 地點 : B棟110室
  • 演講者簡介 : 雷文潔教授為Ph.D. in Economics, Purdue University (2000)。 目前為Assistant Professor,Department of Economics,University of Wisconsin-Milwaukee。 其主要研究領域為Growth and Development、Macroeconomics、及 Experimental Economics。
  • 演講摘要 : This paper describes the design and behavior of an experimental economy with the structure of the Ramsey-Cass-Koopmans model of optimal growth. The experiment includes three different implementations of the model: a decentralized implementation with multiple agents and a market for capital, a treatment where individual subjec are placed in the role of social planners, and a treatment where the social planner consists of five agents making a joint decision. The findings highlight the role of market institutions in facilitating convergence to the optimal steady state.