Concluding Remarks
Experimental economics raised the issue of the relationship between models and reality. The review of leading experimental economists reveals many steps forward. With this in mind, it is useful to return to the difference between experiments on decisions, which deny the traditional theory, and experiments on markets, which instead confirm it. Combining these findings, experimental economics shows that real man is different from economic man. Experimental man is closer to real man than to economic man and he can perform efficient exchanges on markets without requiring the acceptance of the unrealistic assumptions of full rationality and perfect information.
SALVATORE RlZZELLO AND ANNA SPADA