The paper provides a review of research using virtual reality as a laboratory tool in economics. It addresses the question of whether behavior in virtual environments is a valuable source of empirical evidence for economists. A typology of virtual reality experiments based on the difference between low-immersive (LIVE) and high-immersive virtual environments (HIVE) is proposed. It is argued that virtual reality experiments are framed field experiments, which allow testing the effect of contextual cues on economic behavior under the strict control of the experimenter. This feature enhances replicability and attenuates the context-free illusion that represents an important limitation of the standard laboratory approach in economics.

Innocenti, A. (2017). Virtual reality experiments in economics. JOURNAL OF BEHAVIORAL AND EXPERIMENTAL ECONOMICS, 69, 71-77 [10.1016/j.socec.2017.06.001].

Virtual reality experiments in economics

INNOCENTI, ALESSANDRO
2017-01-01

Abstract

The paper provides a review of research using virtual reality as a laboratory tool in economics. It addresses the question of whether behavior in virtual environments is a valuable source of empirical evidence for economists. A typology of virtual reality experiments based on the difference between low-immersive (LIVE) and high-immersive virtual environments (HIVE) is proposed. It is argued that virtual reality experiments are framed field experiments, which allow testing the effect of contextual cues on economic behavior under the strict control of the experimenter. This feature enhances replicability and attenuates the context-free illusion that represents an important limitation of the standard laboratory approach in economics.
2017
Innocenti, A. (2017). Virtual reality experiments in economics. JOURNAL OF BEHAVIORAL AND EXPERIMENTAL ECONOMICS, 69, 71-77 [10.1016/j.socec.2017.06.001].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11365/1010612