Pasadena : Economics Research Grant

Caltech has received $500,000 from the Lynde and Harry Bradley Foundation for a new laboratory of experimental economics. Spokesmen said research on such issues as decision-making and marketplace behavior is expected to be used by industry, government, business and academia.

Charles Plott, professor of economics and a pioneer in the field of experimental political economy, is director of the facility, which will include a network of computers and video equipment.

The Bradley Foundation is based in Milwaukee, Wis. Other major funding has been provided by General Motors, the Alfred P. Sloan Foundation, the Pacific Telesis Group, the National Science Foundation, Caltech, NASA and the Jet Propulsion Laboratory.