Behavioural and experimental economics
London Economics’ work on consumer and firm behaviour draws upon the developing area of behavioural economics and the empirical method called experimental economics. Behavioural economics is a complement to standard models assuming fully rational consumers, but also recognises that firms may seek outcomes in markets that are not always profit maximising. The behavioural economics framework provides additional insights into behaviour and is being increasingly used in policy in the United Kingdom, the United States and by the European Commission (especially by regulators within regulated industries).
Experimental economics is an empirical method for testing both consumer and firm behaviours. Experimental economics differs from surveys and focus groups, as experiments observe actual behaviour under the incentives of interest. Surveys and focus groups ask what would happen while experiments observe what actually happens. The experiments take place under controlled conditions so that the relative drivers of behaviour can be isolated, and the reasons why behaviour changes (or not) can be assessed. London Economics has strong links within the academic community to ensure the robustness of its results, has access to a number of independent experimental research laboratories to conduct the experiments. We have conducted a wide range of behavioural and experimental economic studies for the public and private sector.
Dr Charlotte Duke, Divisional Director
Charlotte Duke has wide experience of advising clients on environmental and water policy, consumer markets, telecommunications, and platform science areas including space exploration.
Charlotte leads our Behavioural & Experimental Economics team and our Aerospace and Satellite Technology team. Prior to joining London Economics, Charlotte was a Senior Economic Advisor to the Victorian and National Governments in Australia. During this time Charlotte advised on the design and implementation of water markets, biodiversity maintenance policies and central government budgetary allocations to science research.
Charlotte has a Masters in Economics from Monash University in Australia, and a doctorate in Economics undertaken at the University of Melbourne in Australia and University College London in the United Kingdom.
Contact details
T: +44 (0) 20 7866 8193
E: cduke@londecon.co.uk
