The Interdisciplinary Center for Economic Science (ICES) brings together researchers and students interested in using the methods of experimental economics to answer research questions from a variety of fields. Using both laboratory and field experiments, research at ICES has been conducted in such areas as public choice, development, bargaining, neuroscience, and economic systems design (ESD). The Center was founded in 2001 by Vernon Smith, a recipient of 2002 Nobel Laureate in Economics.
The ICES Fairfax laboratory is located in Room 419B of Enterprise Hall on the Fairfax campus. One lab contains 28 computer terminals and a smaller lab contains 10 computer terminals. The majority of economics experiments take place at this location. ICES also utilizes facilities in the Metropolitan building on the Arlington campus.
The Center for the Study of Neuroeconomics (CSN) has access to an Allegra 3T fMRI scanner, which reveals the location of brain activity in real-time by measuring hemodynamic response as subjects engage in economic decision making. The BeNeuro laboratory at the Krasnow Institute contains 16 computer terminals for use in economic experiments. Additionally, CSN owns Terraeconomicus, an island in the virtual world of Second Life®. It is home to George Mason University’s only virtual course, Economics of the Metaverse, where lessons, field trips, and presentations are completed from within the virtual world.