Field Experiments and Firms: Practical Applications of Behavioral Economics
| Author: | Bc. Kateřina Chadimová |
|---|---|
| Year: | 2014 - summer |
| Leaders: | PhDr. Lubomír Cingl Ph.D. |
| Consultants: | |
| Work type: | Bachelors |
| Language: | English |
| Pages: | 90 |
| Awards and prizes: | B.A. with distinction from the Dean of the Faculty of Social Sciences for an extraordinarily good bachelors diploma thesis. |
| Link: | https://is.cuni.cz/webapps/zzp/detail/136735/ |
| Abstract: | Recent development in experimental economics has brought a lot of new meth- ods that could be highly bene cial for both rms and scientists. Rather than carrying out experiments only in laboratories, experimental economists con- duct also eld experiments, i.e. the experiments which examine intervention in the natural environment of participants, claiming that people tend to behave more naturally there and therefore the results are more realistic. Successful applications of these eld experiments show that a proper usage of ndings of behavioral economics can signi cantly improve a rm's market position, de- crease its costs and boost the overall eciency. Moreover, economists are given a great opportunity to test various microeconomic theories about consumer's or rm's behaviour at the same time and to quantify their impact. The goal of this thesis is two-fold. First, I scrutinize di erent types of eld experiments that were applied in rms, de ne their eciency and summarize their outcomes. Second, I de ne the best practices for e ective cooperation between experimen- tal economists and rms. Moreover, I design a hypothetical eld experiment to reveal the e ect of time-management training on a rm's productivity |
