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My research is focused on understanding the mechanisms that
facilitate human exchange. Some mechanisms are internal,
based on our brains evolved ability to engage in social exchange.
Other mechanisms are external, based on the emergent rules
contained in our institutions.
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Some of my research focuses on how institutions facilitate
exchange. My first research paper studied how people used
unbacked (or fiat) money to facilitate intertemporal exchange.
Other research papers with my colleagues study how
'smart' computer assisted markets can be designed to facilitate
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The experimental methods used in my research have emerged over
the last fifty years in what is now called Experimental Economics.
Recent technological advances allow us to do Virtual World
experiments and Neuroeconomics experiments.
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I use virtual worlds to run persistent experiments in immersive
environments. Virtual world experiments are new and we are
still learning how to use them to study exchange.
Neuroeconomics is used to study how the brain makes economic
This is a very nice blog on all things Second Life. http://danielvoyagerblog.wordpress.com/.
K. Luan Phan, Chandra Sekhar Sripada, Mike Angstadt, and Kevin McCabe. “Reputation for reciprocity engages the brain reward center,” Proceedings of the National Academy of Science, 2010, 107 (29), 13099-13104. [Link]
David Chavanne, Kevin McCabe, and Maria Paganelli, "Whose money is it anyway? Ingroups and distributive behavior," Journal of Economic Behavior and Organizations, 2010, In Press. [Link]