Summary |
TASSELMobLab collaborate with researchers such as Colin F. Camerer (Caltech) to provide "Evidence of general economic principles of bargainingtrade from 2,000 classroom experiments,"produce "Economics for Kids" videos describing daily interactions between Walter the economisthis new neighbors AmyJimmy. Through events such as having pets, dividing house chores, selling ice cream, sharing cookies, cleaning beaches, drinking outdated milk, attending math contests, playing soccervideo games, as well as getting vaccinations, the videos illustrate concepts of opportunity cost, specialization, law of one price, fairnessreciprocity, sunk cost, correlation is not causality, reward mechanisms and |
Scientific Breakthrough |
Since the improbable experimental results in social psychology showing that people can predict the future, the replication crisis of social sciences has swept through various disciplines, casting doubt on classic experimental results among the general public. Lin et al. (Nature Human Behaviour 2020), "Evidence of general economic principles of bargainingtrade from 2,000 classroom experiments," replicates classic economic experiments, restores public faith on economics,provides solid foundation for policy recommendation. |
Industrial Applicability |
TASSELMobLab produce "Economics for Kids" videos describing daily interactions between Walter the economisthis new neighbors, AmyJimmy. Through events such as having pets, dividing house chores, selling ice cream, sharing cookies, cleaning beaches, drinking outdated milk, attending math contests, playing soccervideo games, as well as getting vaccinations, the videos illustrate concepts of opportunity cost, specialization, law of one price, fairnessreciprocity, sunk cost, correlation (instead of causality), reward mechanismsindependent events. |