Frequently Asked Questions
1. WHY DO ECONOMISTS RUN LAB EXPERIMENTS?
Economists use experiments to understand how real people make decisions in controlled circumstances that are difficult to achieve in natural settings.
2. WHAT IS IT LIKE TO PARTICIPATE IN AN ECONOMICS?
You will be asked to make one or more rounds of decisions. There are no right or wrong decisions, but you will be paid based on the decisions that you make. Before an experiment begins, the experimenter will explain how you make decisions and how your monetary payment will result from them.
3. HOW MUCH WILL I BE PAID FOR PARTICIPATING IN AN EXPERIMENT?
Total compensation depends on the experiment, on your decisions (and possibly those of other participants), and possibly an element of risk. Payments will be on top of a minimum “participation payment” of $7 just for arriving on time and participating in an experiment.
4. CAN I PARTICIPATE IN ECONOMICS EXPERIMENTS AT SFU?
Yes – any SFU student is eligible to sign up to the SFU Experimental Economics Lab recruitment system , which allows you to participate in economics experiments.
5. WHERE IS THE SFU EXPERIMENTAL ECONOMICS LAB LOCATED?
West Mall Centre (WMC) 2653, SFU Burnaby Campus. See Map
Some experiments use a nearby classroom instead; if this is the case, it will be indicated when you sign up for the experiment.
6. What is Experimental Economics?
Experimental economics uses experimental methods to find answers to social science questions that are challenging to answer using theory or field data. As in natural sciences, lab experiments allow researchers to study specific problems in a controlled environment.
7. Is the experiment only in person?
Experiments will also be conducted online.