Market Engineering, SS 2014, gehalten am 24.06.2014

This lecture is the first of two methodologies for Testbedding market mechanisms, namely experimental economics. The principles behind conducting an economic experiment in the lab are laid down, followed by examples of studying utility of suspense, and emotions in auction bidding in the lab. Further, the lecture highlights principles of neuro- and physio- economics, illustrating the above two use cases by means of physiological data. The lecture wraps up with applications to the MEI framework.