This project equips the new Economic Science Laboratory (ESL). The laboratory consists of 40 subject decision stations, which under this project, would be equipped with 32 model 386 personal computers and 8 NeXT UNIX work stations plus support units and equipment. In the last decade ESL has been instrumental in the development of software programs for the design of new "Smart" computer assisted auctions for network and other technologically complex coordination markets. The applications include natural gas pipeline networks, electric power networks, and combinatorial resource packaging for airport slots, timber rights, scheduling problems, radio/TV spectra licenses, and many more. The next generation of computer based experimental market designs will require human decision makers at each station to be supported by expert systems for data analysis, optimization, and strategic analysis. Development and exploration planning and programming in this direction has already begun at ESL using two workstations acquired on loans. Computerized experimental projects include: private and common value auctions; oligopoly competition; markets for emission permits; financial market designs; individual decision making and markets; bargaining; neural models of adaptive behavior; public goods; marketing and laboratory experimentation.
