Just a few months ago Vilnius University The Faculty of Economics and Business Administration has installed two new experimental economics and management laboratories. Until now, there were no suitable conditions and equipment for conducting experimental research in this field in Lithuania.
"With the installation of new laboratories at the faculty, we will be able to fill a significant gap and expand our arsenal of research and scientific data. Together, we will be able to get involved in the most significant international research in the world of science, working right here in Lithuania. This is a great opportunity to attract foreign partners to come here as well", says Aida Macerinskienė, Dean of the Faculty of Economics and Business Administration of Vilnius University.
The equipment of the laboratories is financed by the Lithuanian Science Council.
"CDM Lab" is the world's third consumer decision-making laboratory
Vilnius University consumer decision-making (eng. consumer decision making - CDM) research group has already started conducting research in a new laboratory - Consumer Decision Making Lab ("CDM Lab"). This is the first such laboratory in the Northeast European region and the third in the world.
The equipment in the laboratory allows monitoring the behavior of users: facial expressions, emotions, where the user's attention and gaze are directed, how they react to the environment, sounds during shopping or making other decisions. The equipment is easily adapted to various situations of use, and therefore allows for wide-scale research related to consumer behavior, choices and decision-making.
CDM Lab is equipped with separate cabins equipped with computers and other special equipment for conducting experimental research and a laboratory shop with shelves and goods displayed on them, a payment system and video surveillance equipment. The uniqueness of this laboratory is the scientific research technology "NoldusHub", introduced at the end of 2022. It is currently the only technology that enables interdisciplinary research that combines the sciences of psychology, biophysics, food, sustainability, and consumer behavior.
The first experimental laboratory of economic behavior in the Baltic States
"This year, another experimental laboratory in the field of economic behavior has been installed in the faculty - Vilnius University Lab for Behavioral Economics ("VU LABBE"). To our knowledge, there is no behavioral economics laboratory in any of the Baltic countries, so the establishment of this laboratory will provide ample opportunities for Vilnius University to become not only a national, but also a regional leader in the field of experimental and behavioral economics," says A. Mačerinskienė.
"VU LABBE" will be a concentrated research and teaching base, and a research group will be recruited this year.
Behavioral economics studies the social, cognitive, and emotional factors that determine people's economic decisions, such as investing, saving, or spending. The results of such experimental studies reveal how people make certain economic decisions, how they react to various political and market measures.
"Fundamental changes in labor taxation laws in Lithuania were based on the research conducted by researcher Matthias Weber, who previously worked at our faculty. However, this laboratory experiment, which is important for the regulation of Lithuanian labor market policy, was conducted outside of Lithuania, so we are extremely happy that from now on we will be able to conduct experimental research here", shares A. Mačerinskienė.
