The Monash Laboratory for Experimental Economics (MonLEE) is operational in the Clayton Campus.
MonLEE has 27 computers, and is run by Monash University’s Department of Economics. This laboratory helps economists test their hypotheses, identify the forces that enhance innovation, cooperation, and productivity, and contribute to shape policy making and advance the science of economics across the globe.
Experimental and behavioural economics are relatively new areas, which have grown strongly in recent years. Actions and behaviour of individuals are observed under different set ups and conditions, in an attempt to analyse the implications of such actions and behaviour for economic development and growth. Across the world, experiments have been used to design, understand, and test policy implications, including electricity market deregulation, auctions for biodiversity, and aqua-culture. Participants in these experiments simulate the behaviour of people in everyday bargaining situations, in organisations and in the market at large. Experimental economics are also increasingly being used to examine exactly how morale and self-motivation are crucial for the growth of productivity and how intangible institutions, such as trust, are imperative for success of market networks and organisations in the global competitive environment.
The recent years has witnessed an exponential increase in the application of experimental methods in Development Economics. Much of these take the form of artefactual field experiments that examine behaviour using similar rules and procedures as in a laboratory but employ a non-standard subject pool. Recent examples of such research by MonLEE affiliated researchers include:
• Risk-Taking Behaviour in the Wake of Natural Disasters
• Behavioural Impacts of China’s One-Child Policy
• Understanding Corruption and Risk-Coping Behaviour Following Natural Disasters in Bangladesh
• Religion, Minority Status and Trust
• Choosing to be trained: Behavioural restrictions on participation decisions
Few other Australian institutions can boast of such an integrated approach to research in development economics. For more details of the research conducted by CDES you can access their site here.
MonLEE is available for booking by staff members, graduate students, and visitors of the Faculty of Business and Economics at Monash for conducting research in experimental economics, as well as for conducting class-room experiments in units offered by the Faculty. All booking inquiries should be directed to Kevin Wu by email: email@example.com.
For all other inquiries, please contact the lab director, Professor Phil Grossman (E855, Menzies Building) by email firstname.lastname@example.org or phone: 9902 0052.
All first-time users of MonLEE must fill out a registration form to acknowledge that he/she agrees to accept the terms and conditions set by the lab when using MonLEE for research and teaching activities. Please click here for the form.