This book details the results of the authors' research using
laboratory animals to investigate individual choice theory in
economics-consumer-demand and labour supply behaviour and choice
under uncertainty. The use of laboratory animals provides the
opportunity to conduct controlled experiments involving precise and
demanding tests of economic theory with rewards and punishments of
real consequence. Economic models are compared to psychological and
biological choice models along with the results of experiments
testing between these competing explanations. Results of animal
experiments are used to address questions of social policy
importance.
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