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Experiment design

In addition to the laboratory, the experiments are currently being conducted increasingly online. With a network consisting of 68 computers, the Cologne laboratory is one of the largest and most modern of its kind in Germany. Through the use of world-leading software, it offers the possibility to conduct interactive experiments completely digitally and to observe precisely stimulated situations.

The "design" of an experiment means the specification of the underlying "game", its parameters and the monetary incentives. Preferences, technologies and other economically relevant parameters can be perfectly induced and controlled. Often, only one parameter is changed to compare two different situation constellations. Thus, changes in the behaviour of the test subjects can be traced back to exactly this one parameter.

This allows important conclusions to be drawn about the nature of economic behaviour and the performance of markets and other institutions. The research goal is to develop modern, practical algorithms to improve marketplaces and other economic or social institutions.