Book contents
- Frontmatter
- Contents
- Preface
- Acknowledgments
- Part I The Formative Years
- Introduction
- 1 An Experimental Study of Competitive Market Behavior
- 2 Effect of Market Organization on Competitive Equilibrium
- 3 Nature, the Experimental Laboratory, and the Credibility of Hypotheses
- 4 Experimental Auction Markets and the Walrasian Hypothesis
- 5 Experimental Studies of Discrimination versus Competition in Sealed-Bid Auction Markets
- 6 Experimental Economics: Induced Value Theory
- 7 Bidding and Auctioning Institutions: Experimental Results
- 8 Intertemporal Competitive Equilibrium: An Empirical Study of Speculation
- 9 Experimental Economics at Purdue
- Part II Institutions and Market Performance
- Part III Public Goods
- Part IV Auctions and Institutional Design
- PART V Industrial Organization
- Part VI Perspectives on Economics
9 - Experimental Economics at Purdue
Published online by Cambridge University Press: 06 July 2010
- Frontmatter
- Contents
- Preface
- Acknowledgments
- Part I The Formative Years
- Introduction
- 1 An Experimental Study of Competitive Market Behavior
- 2 Effect of Market Organization on Competitive Equilibrium
- 3 Nature, the Experimental Laboratory, and the Credibility of Hypotheses
- 4 Experimental Auction Markets and the Walrasian Hypothesis
- 5 Experimental Studies of Discrimination versus Competition in Sealed-Bid Auction Markets
- 6 Experimental Economics: Induced Value Theory
- 7 Bidding and Auctioning Institutions: Experimental Results
- 8 Intertemporal Competitive Equilibrium: An Empirical Study of Speculation
- 9 Experimental Economics at Purdue
- Part II Institutions and Market Performance
- Part III Public Goods
- Part IV Auctions and Institutional Design
- PART V Industrial Organization
- Part VI Perspectives on Economics
Summary
This memoir is about many people connected with Purdue and with Em Weiler, but mostly it is about me and a continuing struggle of escape from the prison of conventional patterns of economic thought.
I arrived in West Lafayette in the summer of 1955. I had turned down an offer from Princeton at $3,750 per year, because I was already poor enough, and a good offer from Carnegie Tech, because somehow Carnegie seemed too structured. Whatever Purdue was, it wasn't that! In the next two to three years I found myself in the company of Ed Ames, Lance Davis, George Horwich, Chuck Howe, John Hughes, Jim Quirk, Stan Reiter, Rubin Saposnik, Larry Senesh, and, of course, Em Weiler. Many of us had only one thing in common—a very subverting sense of considerable dissatisfaction with our own graduate education, whether it was at Chicago, Harvard, Stanford, or wherever, and with the state of economic knowledge. This was the glue that bound—that allowed each of us to be encouraged to “do our own thing” (before that phrase became part of the language) by Em Weiler. Em, I think, had no prevision at all as to which direction that collection of renegades should go, but he had an intuition that maybe something would emerge out of a process that did not try to prevent things from happening.
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- Papers in Experimental Economics , pp. 154 - 158Publisher: Cambridge University PressPrint publication year: 1991
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