Behavioural and Experimental Economics

Based on empirical data obtained in the laboratory (lab experiments) or in the field (field experiments), experimental economics pursues the dual objective of verifying the predictions of theoretical models and shedding light on new behavioural trends that are yet to be incorporated into the existing theories. A laboratory analysis consists in constructing small-scale economic scenarios with the ability to control the specific economic variables and to encourage the economic agents to interact within this context. Beginning from experimental observations and also making use of conceptual categories and tools developed in other disciplines (such as social psychology and neurosciences), behavioural economics provides alternative models when compared to those formulated by the traditional economic theory. Its main objective is to increase the explicative and forecasting power of economic theory through the analysis of cognitive limitations and social conditioning factors that mostly influence individual decision-making processes, with particular reference to the context of strategic interaction. The topics researched in this area include: private provision of public goods; psychological determinants of risk aversion; experimental analysis of the sense of fairness and of other 'socially conditioned preferences' in contexts of strategic interaction; deception and dishonest behaviour; monetary illusion; wage discrimination; experimental analysis of information aggregation processes and convergence and divergence of opinions within social networks; analysis of the role of communication and promises on mutual trust; self-control issues.
Alessandro Bucciol
Associate Professor
Dominique Cappelletti
Research Scholarship Holders
Simona Gamba
Research Scholarship Holders
Maria Vittoria Levati
Full Professor
Chiara Nardi
Research Scholarship Holders
Simone Quercia
Temporary Assistant Professor
Marcella Veronesi
Associate Professor
Luca Zarri
Full Professor
Skills
Topic People Description
Behavioral Finance (see  JEL classification)
JEL G41 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets Chiara Nardi
Analysis of the role of emotional, psychological, social or cognitive factors in individual financial choices, also using laboratory experiments. This includes studying the impact of subjective wellbeing or emotions on financial decisions (in particular, portfolio and insurance choices). The consequences of such decisions might be borne by the decision maker or by others.
Design of Experiments (see  JEL classification)
JEL C91 - Laboratory, Individual Behavior Dominique Cappelletti
Simona Gamba
Maria Vittoria Levati
Chiara Nardi
Simone Quercia
Luca Zarri
Design and analysis of laboratory experiments to study heterogeneity of individual behaviors, both in conditions of certainty and uncertainty and in cases involving risk. These experiments help to develop models with greater explanatory and forecasting power compared to those formulated by traditional economic theory.
JEL C92 - Laboratory, Group Behavior Simona Gamba
Maria Vittoria Levati
Chiara Nardi
Simone Quercia
Luca Zarri
Analysis and design of laboratory experiments to study the behavior of individuals in contexts of strategic interaction to; (i) identify the role of social preferences in the presence of economic incentives, (ii) study individuals attitude towards cooperation in the contexts of a so-called "social dilemma" (such as the private provision of public goods) and (iii) proposing mechanisms to solve the dilemma. Experimental analysis of the role of communication in the context of strategic interaction and study of the role of the social influence of agents within networks.
JEL C93 - Field Experiments Dominique Cappelletti
Marcella Veronesi
Evaluation and study of the impact and causal effects of policy interventions or projects through field experiments. Focus, in particular,  on the studies related to the evaluation of how information can affect the demand and willingness to pay for fair trade products, on the adoption of renewable energy and on the propensity to vaccinate. Study of the effects of language on economic decisions and on the adoption of cooperative behavior. Evaluation of the effects of incentive schemes in the context of health and environmental policies.
Micro-Based Behavioral Economics (see  JEL classification)
JEL D91 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making Alessandro Bucciol
Dominique Cappelletti
Maria Vittoria Levati
Chiara Nardi
Simone Quercia
Marcella Veronesi
Luca Zarri
Cover studies about the role of emotional, psychological, social or cognitive factors on individual choices, also using laboratory experiments. Also studies the consequences of traumatic events on economic behavior (in particular the attitude towards risk) both in the short and in the long term; deception and dishonest behavior; self-control problems. Study of the economic policy impacts of psychological and behavioral aspects in the context of consumption choices, pension savings and investment in education
Projects
Title Managers Sponsors Starting date Duration (months)
Assegno: Un approccio sperimentale a temi di political economy Maria Vittoria Levati 11/1/13 24
The role of behavioral strategies in effectively promoting STEM education Maria Vittoria Levati Ricerca di Base di Ateneo 2015 10/1/17 24
Percorsi di RSI. Dall'inserimento all'autonomia lavorativa Luca Zarri, Alessia Zoppelletto borsa di ricerca - assegnato e gestito dal Dipartimento 10/9/17 12
Percorsi di RSI. Rigenerazione imprenditiva di beni comuni Luca Zarri, Marta Avesani borsa di ricerca - assegnato e gestito dal Dipartimento 10/9/17 12
Promuovere l'istruzione STEM attraverso un approcio di economia comportamentale Maria Vittoria Levati, Dominique Cappelletti Assegno finalizzato - assegnato e gestito dal Dipartimento 11/1/17 24
Scelte di portafoglio, fiducia e preferenze al rischio Alessandro Bucciol, Ivan Soraperra Assegno finalizzato - assegnato e gestito dal Dipartimento 11/1/15 12
Self-confidence and prejudices: a field experiment Simona Cicognani Post-doc 1/15/16 36
The power of words in a petty corruption experiment Chiara Nardi Post-doc 10/1/17 36