The LMU Experimental Economics Lab (or Econlab) is a central facility in the Economics Department, where we conduct experiments, subject pool sessions, and surveys to study economic decision making and to provide a hands-on and interactive teaching experience for our students. LMU's Economics Department has an outstanding group of faculty members who are experts in Experimental Economics. Experimental Economics has developed into one of the most productive and empirically relevant research fields in Economics since the mid 1990s (Nobel Prize in Economics 2002, labs worldwide).
We are always recruiting individuals to participate in our experiments - to register for experiments and to get more detailed information follow the link to Experiments. Subjects in experiments are paid cash for their participation - although the exact amount varies, participants typically earn an average of $15 or more per hour. Participants in subject pool sessions are usually enrolled in economics classes and receive class credit according to the syllabus (but no monetary compensation) for their participation.
Experimental methods can be applied to empirically analzye and validate theories in all fields of economics and beyond. Research by faculty members in the department has focused in particular, but not exclusively, on ethical, rationality, and competition aspects. The experimental method also lends itself to interdisciplinary work between economists and, among others, political scientists, psychologists, sociologists, biologists, and mathematicians. Use of the Econlab is governed by the departmental rules.
The LEEL is a dedicated, state-of-the-art experimental lab with custom-made lab furniture. The lab is located in University Hall in rooms 4226, 4228, and 4230; the rooms can be used as one large open space, or they can be divided into two or three sections. We have 3 servers and 30 client laptops, that can be connected in all possible different combinations. The laptops run Windows XP and experiments are usually programmed in ZTree. The access to software and peripherals on all client laptops can be controlled through Netsupport from the servers.
The lab is mobile and can be set up in a wired or wireless configuration in UNH 4226-4230 (or elsewhere on campus); the facilities also allow to conduct paper-and-pen experiments. The lab is equipped with projection facilities in each section and a sound system.