David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
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Journal of Economic Methodology 14 (3):339-352 (2007)
Two articles contributing to the experimental research about incomplete contracts are analyzed in this paper. Especially interesting is their use of the terms ?firms? and ?workers?, although the experiments were performed on students only given information that they were participating in general market experiments. A framework based on Mäki (2004) is used both to emphasize what we aim to explain, and by which we explain. Also the concepts of internal and external validity are important. By showing that the articles refer to an external validity which they are not capable of achieving at this moment, their use of ?firms? and ?workers? is found to be questionable. But the two articles are still good examples of experimental research about incomplete contracts.
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References found in this work BETA
Uskali Mäki (2005). Models Are Experiments, Experiments Are Models. Journal of Economic Methodology 12 (2):303-315.
Ralph Hertwig & Andreas Ortmann (2001). Experimental Practices in Economics: A Methodological Challenge for Psychologists? Behavioral and Brain Sciences 24 (3):383-403.
Francesco Guala (2003). Experimental Localism and External Validity. Philosophy of Science 70 (5):1195-1205.
Nicholas Bardsley (2005). Experimental Economics and the Artificiality of Alteration. Journal of Economic Methodology 12 (2):239-251.
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