Experimental & Behavioral Economics
Given the growth of interest in behavioral considerations, experiments are increasingly used to test theories of behavior, gather stylized facts and design public policy. Experimental Economics may be the fastest growing field in economics today. It is a field that began with the proposition that economic theory can be testable in a controlled laboratory setting. The field has extended to complement game theory and mechanism design theory in that it provides a setting in which new economic institutions can be tested and their properties observed and compared.