Handbook of Research Methods and Applications in Experimental Economics
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Handbook of Research Methods and Applications in Experimental Economics

Edited by Arthur Schram and Aljaž Ule

This volume offers a comprehensive review of experimental methods in economics. Its 21 chapters cover theoretical and practical issues such as incentives, theory and policy development, data analysis, recruitment, software and laboratory organization. The Handbook includes separate parts on procedures, field experiments and neuroeconomics, and provides the first methodological overview of replication studies and a novel set-valued equilibrium concept. As a whole, the combination of basic methods and current developments will aid both beginners and advanced experimental economists.
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Chapter 9: An introduction to physiological economics

Oliver J. Hulme, Edward J.D. Webb and Alexander C. Sebald

Abstract

This chapter provides a brief introduction to the field of physiological economics. We begin by articulating why physiology is important for understanding the behavior of economic agents. Focusing primarily on hormonal signals, we outline basic concepts in endocrinology. We provide a description of the most commonly analyzed hormones, including their biological relevance and how they are measured. We then proceed to describe the available evidence pertaining to the relation between hormones and economic behavior, including both individual and social decision-making. We end by briefly exploring limitations, challenges, and potential future directions.

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