APPLICATION OF EXPERIMENTAL ECONOMICS IN AGRICULTURE

Abstract

The aim of this paper is to define the topic of experimental economics, which is becoming increasingly important in studying a wide range of issues related to agriculture. On the other hand, agricultural activity provides an excellent field for validating the use of tools employed in experimental economics. The available literature, in both digital and printed formats, was used for this study, and the methods applied include the descriptive method, analytical method, comparative method, compilation method, and deductive method. Experimental economics plays a crucial role in studying individual behavior in business decision-making within agriculture. Games in experimental economics are one of the most common methods for studying such behavior, enabling researchers to test hypotheses and predict individual behavior in various situations. The knowledge gained from experimental economics can be extremely useful in improving agricultural production and adapting to market conditions.

Keywords

• experimental economics
• agriculture
• business decision-making
• economic experiments