the Aton Experimental Economics Laboratory
Last Updated: 5th August 2016
The Aton Experimental Economics
Laboratory (AEELab) is an independent laboratory
providing a range of
consulting, software and business
services around providing the expertise and
infrastructure for experimental
Experimental economics is a branch of economics
looking at how real people behave within economic
systems, typically by
implementing an economic system in a computer lab,
and using real
people as participants.
The parent company of the AEELab is Aton
Ltd, which is a specialist consulting firm in the
energy markets that has been operating
since 1996. In 2006 and 2007 Aton operated
Economics Lab (SEELab) in a joint venture with the
Securities Industry Research Centre of
Asia-Pacific (SIRCA). By
agreement this JV ended in 2007 and all materials
contracts previously conducted by SEELab
have been transfered to the AEELab.
The owner and director of Aton Consulting is Dr.
Karel became involved in experimental economics
his PhD research work commencing in the late
worked as an academic for a number of
years, including with the University of New South
Research Fellow in the Faculty of Commerce and
Economics) and as a
visiting research fellow with the ICES
experimental economics labs at
George Mason University.
Experimental Economics ?
Experimental economics is the application of
methods to test the validity of various economic
to test bed new market mechanisms. Using
economic experiments create real-world incentives
to help us better
understand why markets and other exchange systems
work the way they
do. We have listed some papers at the bottom
of this page
provide more information about experimental
economics as a discipline.
the AEELab provide ?
The AEELab exists to support consultants,
and academics to conduct and use experimental
We develop experiments to address
research questions, and are a research facility in
our own right,
conducting experiments in respect of our research
our working papers are available for download on
the "papers" page.
In particular, the AEE Lab can provide:
Lab management and control software and
Hosting of experiments in other labs using
based experiment management systems.
Development of experiments, drawing upon our
software library of robust and running
Delivery of experiments via our existing
learn more ?
To discuss the activities of the Lab, please
about Experimental Economics ?
You may be interested to read the following
the Interdisciplinary Center for Economic Science
at George Mason
University. ICES is headed by Professor
Vernon Smith, who was
the co-recipient of the 2002 Nobel Prize for
Economics, in recognition of
his contributions to the field of Experimental
The links below take you to the ICES
materials are ICES Copyright.
about Experimental Economics
Smith, (1994). "Economics in the
Laboratory," Journal of Economic
Perspectives 8(1), 113-131
Smith, (1987). "Experimental Methods in
Economics," The New Palgrave: A
Dictionary of Economics, John Eatwell,
Murray Milgate, and Peter Newman
Smith, (1982). "Microeconomic Systems as
an Experimental Science,"
American Economic Review 72(5), 923-955
Market Design important to get right ???
Markets are frequently used to provide important
services - with the intention of driving efficency
delivery.... Are all markets equal for
problems? The link below is to a Video Clip
showing a fabulous
operation. (They should have asked us to
here (Approx 4MB)
(FULL RIGHTS TO THE CREATORS)