Experiment and experience

Experience and Experiment in Art

Experience and experiment in biology.

"Experiment versus Experience": if I had had to give this talk in French, I could not even have phrased the title as I did. For "experience" in French stands for both experience and experiment. And yet there is a fundamental difference between the two./Experience means familiarity with happenings in · he world. It is our cumulative record o; store of judgments and suppositions, which we have fo...

Bubbles and Experience: An Experiment

History contains many colorful examples where speculative trade in some commodity or financial asset generated a phase of rapidly increasing prices, followed by a sudden collapse (see, e.g., Edward Chancellor, 1999, or Charles Kindleberger, 2001). One famous case cited by many economists (see Peter Garber, 2000, pp. 127–31, for references) is the Dutch “tulipmania” of the 1630s. The prices of c...

Bubbles and Experience: An Experiment on Speculation*

We investigate experimentally how the share of experienced traders in doubleauction asset markets affects trading, in particular the occurrence of bubble-crash pricing patterns. In each session, six subjects trade in three successive market rounds and gain experience. In a fourth round, depending on the treatment, two or four experienced subjects are replaced by inexperienced subjects. The resu...

Exploring Sensory Neuroscience Through Experience and Experiment

Many phenomena that we take for granted are illusions - color and motion on a TV or computer monitor, for example, or the impression of space in a stereo music recording. Even the stable image that we perceive when looking directly at the real world is illusory. One of the important lessons from sensory neuroscience is that our perception of the world is constructed rather than received. Sensor...