Banking on experiments?

Martin Dufwenberg (Department of Economics, University of Arizona, Tucson, Arizona, USA and Department of Decision Sciences and IGIER, Bocconi University, Milan, Italy and Department of Economics, University of Gothenburg, Gothenburg, Sweden)

Journal of Economic Studies

ISSN: 0144-3585

Publication date: 9 November 2015



How can laboratory experiments help us understand banking crises, including the usefulness of various policy responses? After giving a concise introduction to the field of experimental economics more generally, the author attempts to provide answers. The paper aims to discuss this issue.


The author discusses methodology and surveys relevant work.


History is often too complicated to be meaningfully revamped or modified in the lab, for purposes of insight-by-analogy. But as people argue about how to understand financial history, they bring ideas to the table. It is possible and useful to test the empirical relevance of these ideas in lab experiments.


The paper pioneers broad discussion of how lab experiments may shed light on banking crises.



Martin Dufwenberg (2015) "Banking on experiments?", Journal of Economic Studies, Vol. 42 No. 6, pp. 943-971

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