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Experimental Laboratory for Finance and Economics (ELFE)

The ELFE is an experimental research laboratory focused on human decision-making in individual and interactive environments. The laboratory is used to conduct computer-based experiments using up to 33 participants. Researchers in ELFE are employing experimental economics which, over the past few decades, has been shown to be a useful tool to test and build economic theories.

If you are at least 18 years old and a student at a nearby university, you can participate in experiments at ELFE. Participants in our experiments play a vital role in our research in the Economics Department at UCL. In addition, students who participate in ELFE experiments earn money that is paid to them in cash on the day they participate in the experiment.

4 steps to become a participant in an ELFE experiment.

[1] Register for the online “subject pool”. You can registration for the online subject pool using the link below. Registering will take less than 5 minutes. By registering to be in the ELFE subject pool, you indicate your intention in taking part in experiments conducted at ELFE. When registering for the subject pool, please use your academic email address (e.g. and do not use another email address (e.g. Gmail). You are not permitted to register on the system more than once. We will exclude subjects that create multiple accounts.

[2] Confirm your registration through an email sent to you. Once you registered for the subject pool, you will immediately receive an email asking you to confirm your registration. Follow the link on the email to be a confirmed participant in our subject pool.

[3] Accept an invitation for an experiment when you receive an invitation via email. Once you are confirmed as a subject pool participant, you are entered into the ELFE subject pool and are eligible to receive invitations for experiments. As experiments are planned to be conducted at ELFE, the online computer system will send you invitations to participate in experiments. Invitation emails will have an explicit date and time for an experiment. Look at the date and time of the experiment and if you can be available in the lab for the entirety of the experiment, you should feel free to sign up to participate.

[4] Show up for the experiment you signed up for. Please be timely for any experiment that you signed up for. The experiment starts at the time stated in invitation email and reminder email. Anyone showing up after the scheduled start time is not guaranteed the show-up payment or the right to participate in the experiment. Because of this, we ask participants to arrive at least 10 minutes early. You must show a valid student ID to participate in an ELFE experiment.


When you register, you'll have to agree to the experiment rules. You can see a copy of them by clicking on the Rules link to the left. Please read them as they'll give you an idea of how the experiments work.

If you have any questions please contact