USING EXPERIMENTAL ECONOMICS TOOLS TO MEASURE SOCIAL ADDED VALUE: A CASE STUDY
Experimental economics is a research tool, where information collected in conducted experiments is used to verify the validity of economic theories, estimate the size of the studied effect or highlight the market mechanism. Economic experiments usually use money (virtual or real) to motivate participants to imitate the real incentives that occur in real markets. Experiments are used to understand how and why markets and other exchange systems operate in this way. The purpose of this chapter is to use the achievements of experimental economics to assess social added value that arises in the course of the production and delivery of public goods and to verify the effectiveness of public policy instruments that can stimulate such social added value. The article consists of (1) conceptual and methodological part, in which the details of the experiment were presented, (2) description of the research sample and (3) analysis of the results of the experiment together with developed conclusions and indications for further research on this issue. The conclusions of this article can be used in business practice in the process of programming by public authorities of instruments supporting specific public policies.
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