Microworlds for experimental research: Having your (control and collection) cake, and realism too

Microworlds (MWs) are dynamic computer-generated environments that subjects interact with in the laboratory and that simulate conditions encountered in the field. Precise levels of experimental control and improved accuracy and efficiency of data collection procedures are characteristic of MWs. It is proposed that these benefits are achieved with concomitant gams in internal validity (afforded by high levels of experimental realism) and external validity (afforded by the replication of the temporal-interactive nature of most field phenomena). To illustrate these ideas, three sets of MW studies are described that investigated rumor and behavior in the stock market (BROKER), escalation behavior (INVE$TMENT CHOICE$), and the application of foraging theory to internet shopping (CYBERSHOPPER).