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Charles Raymond Plott is an American economist. He is the William D. Hacker Professor of Economics and Political Science, Emeritus, at the California Institute of Technology, the former Director of the Laboratory for Experimental Economics and Political Science, and a pioneer in the field of experimental economics. His research is focused on the basic principles of process performance and the use of those principles in the design of new, decentralized processes to solve complex problems. Applications are found in mechanisms for allocating complex items such as the markets for pollution permits in Southern California, the FCC auction of licenses for Personal Communication Systems, the auctions for electric power in California, the allocation of landing rights at the major U.S. airports, access of private trains to public railway tracks, access to natural gas pipelines, the allocation of licenses for offshore aquaculture sites, the combinatorial sale of fleets of vehicles, and the application of complex procurements. Plott has contributed extensively to the development and application of a laboratory experimental methodology in the fields of economics and political science.
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