Leading economists from around the world will gather in Christchurch later this week for the 4th Australasian workshop on experimental economics, being held at the University of Canterbury.

The workshop is organised by Dr Maro Servtka and Dr Steven Tucker, experimental economists from the university's Department of Economics and Finance.

Dr Maro Servtka says the gathering on December 18 and 19 positions the University of Canterbury as one of the world's hubs for this relatively new field of economics. Experimental economics uses controlled experiments, normally within a laboratory setting, to study economic behaviour.

"One of the many benefits of experimental economic methodology is that we can test different types of financial crises as well as mechanisms to counteract those events before they ever happen in the real world," Dr Tucker says.

The organisers were thrilled that the workshop had attracted the current president of Economic Science Association, (the main professional organisation gathering experimental economists), Professor Tim Cason from Purdue University, along with the past president of the ESA, Professor James C. Cox, from Georgia State University and other famous economists.

Topics to be presented during the two day workshop include the current financial meltdown and creation of asset bubbles, market institutions and the effect they might have on the behaviour of firms and consumers, negotiations regarding the level of investment and the split of the profit it generates, and altruistic behaviour by individuals.

University Pro-Vice-Chancellor Professor Nigel Healey said the College of Business and Economics was delighted to be hosting the workshop.

"In recent years, the College has developed significant research capability in the area of experimental economics and now has a strong team of talented young researchers. Hosting such an impressive roll call of leading experimental economists from around the world at this year's workshop demonstrates that our group is one of the largest and most active in Australasia," Prof Healey said.

To underpin their continuing success, the university was establishing the New Zealand Experimental Economics Laboratory (NZEEL), a purpose-built experimental economics laboratory with an observation room and privacy screening around each cubicle.

Other activities by the UC experimental group included editing a special issue of the New Zealand Economic Papers journal on experimental economics, a series of publications in top economics scientific journals, visits by renowned experimentalists to the department (including preparation for 2010 Condliffe Lecture by one of the founding fathers of experimental economics Professor Charles Plott) and organisation of sessions by its members in international conferences held overseas.

Background The New Zealand Experimental Economics Laboratory (NZEEL) will be the main experimental economic research centre within New Zealand, one of the leading experimental economic research hubs in Australasia, and a major player worldwide. NZEEL will trial projects; connect UC research to the private sector; attract distinguished international academics as research visitors; and attract Masters/PhD students from other universities and post-docs as they want to be taught by and collaborate with the best in the field in these areas. Workshop Around 20 invited speakers will attend the workshop. The following are confirmed: Keynote speakers: Tim Cason - Purdue University Martin Dufwenburg - University of Arizona Charles Noussair - Tilburg University James C. Cox - Georgia State University

Invited speakers: Morris Altman - Victoria University Wellington Ananish Chaudhuri - Auckland University Stephen Cheung - University of Sydney Lana Friesen - University of Queensland Ben Greiner - University of New South Wales Anna Gunnthorsdottir - University of Sydney Volodymyr Lugovskyy - Georgia Institute of Technology Vai-Lam Mui - Monash University Nikos Nikiforakis - University of Melbourne Joerg Oechssler - University of Heidelberg Maro Servtka - University of Canterbury Robert Slonim - University of Sydney Steven Tucker - University of Canterbury Richard Watt - University of Canterbury Tom Wilkening - University of Melbourne