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 FLAME University

This site contains material for John Hey's visit to FLAME University in September and October 2022.

This site will be added to as his visit proceeds.

To read about John Hey, please click here. You can contact him at and visit him in Room 216, Guest Houses North. His phone number is  +44 779 256 4905.


I will be presenting An Experimental Comparison of Two Exchange Mechanisms (PDF , 1,186kb) in the Departmental seminar series, on the 27th of September from 10.00 to 11.30.

This, An Introduction to Experimental Economics (MS PowerPoint , 863kb) is an introductory lecture on the whole approach. I gave it on Wednesday the 13th ofOctober. I am giving it again on Wednesday the 21st of September in VKS003.

Also this, The Methodology of Experimental Economics (MS PowerPoint , 64kb) is an introductory lecture on methodology. I will present it on Friday the 23rd of September at 14.30 to 16.00 in Chanakya 101.

I will use The design and implementation of Hey and Lotito (MS PowerPoint , 336kb) and The design and implementation of Carbone, Hey and Neugebauer (MS PowerPoint , 60kb) as illustrations of the Methodogy presentation. It would be helpful if you read Hey and Lotito Paper (PDF , 479kb)  and Carbone, Hey and Neugebauer Paper (PDF , 1,186kb) respectively first.

  The Hey and Lotito Experimental software ( 104kb download) is here.

It has been suggested to me that I give you the opportunity of experiencing experiments. That is an excellent idea. I need, and am waiting for, the cooperation of the IT department, as all my recent experiments are computerised. Any such sessions would be conducted in a Computer Room.

I would like you to experence the market experiment of Hey, Carbone and Neugebauer. This is an interactive Z-tree program and we need to mount it. You can read the published paper with the link below. The subjects were given instructions about the experiment as a whole and a recording of the trading Instructions (these are for the asset market). These are below.


Instructions for Asset Market Concave (MS Word , 61kb)

Recording of Trading Instructions Asset Market ( 20,990kb download)Recording of Trading Instructions Asset Market ( 20,990kb download) 


There are four other experiments that might be interesting to experience. They are all individual experiments, and I link the paper and the instructions (where they are available) below.


Hey and Pace 1

Hey and Pace Paper (PDF , 661kb) 


Hey and Knoll

Hey and Knoll Paper (PDF , 2,010kb)

Hey and Knoll Instructions (PDF , 395kb)


Hey and Lotito (second experiment)

Hey and Lotito Paper (PDF , 479kb)



Zhou and Hey Mark 3-elicitation methods

Zhou and Hey Paper (PDF , 1,978kb)

Zhou and Hey Instructions (MS Word , 188kb)



The following are individual lectures which I may or may not present. Theses lectures give information on the practicalities of running experiments. They may or may not be of interest - depending on where you are at with your planning.

Lecture 1 (MS PowerPoint , 79kb)

Lecture 2 (MS PowerPoint , 70kb)

Lecture 3 (MS PowerPoint , 86kb)

Lecture 4 (MS PowerPoint , 298kb)

Lecture 5 (MS PowerPoint , 75kb)

Lecture 6 (MS PowerPoint , 98kb)

Lecture 7 (MS PowerPoint , 67kb)

Lecture 8 (MS PowerPoint , 3,569kb)

Lecture 9 (MS PowerPoint , 2,972kb)

Lecture 11 (MS PowerPoint , 3,881kb)

Lecture 12 (MS PowerPoint , 800kb)

Lecture 13 (MS PowerPoint , 1,379kb)