Behavioural, Experimental and Theory group (BET)

Members of the Behavioural, Experimental and Theory group (BET) are engaged in a wide range of economic areas, including development, cooperation, charitable giving, price discrimination, leadership, and motivated beliefs. Experimental and behavioural economics are relatively new areas, which have grown strongly in recent years. Actions and behaviour of individuals are observed under different set ups and conditions, in an attempt to analyse the implications of such actions and behaviour for economic development and growth.

Across the world, experiments have been used to design, understand, and test policy implications, including electricity market deregulation, auctions for biodiversity, and aqua-culture. Participants in these experiments simulate the behaviour of people in everyday bargaining situations, in organisations and in the market at large.

Experimental economics are also increasingly being used to examine exactly how morale and self-motivation are crucial for the growth of productivity and how intangible institutions, such as trust, are imperative for success of market networks and organisations in the global competitive environment.