Classroom Games: Trading in a Pit Market
AbstractThis paper describes a classroom exercise that resembles trading in the 'pit' of some financial and futures markets. Playing cards are used to induce supply and demand functions. Instructions and helpful hints are provided. The exercise facilitates an understanding and appreciation of the robustness and efficiency of the textbook model of perfect competition.
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Bibliographic InfoArticle provided by American Economic Association in its journal Journal of Economic Perspectives.
Volume (Year): 10 (1996)
Issue (Month): 1 (Winter)
Find related papers by JEL classification:
- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"An Experimental Study of Competitive Market Behavior,"
Journal of Political Economy,
University of Chicago Press, vol. 70, pages 111.
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- Charles A. Holt & Roger Sherman, 1999. "Classroom Games: A Market for Lemons," Journal of Economic Perspectives, American Economic Association, vol. 13(1), pages 205-214, Winter.
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- Chris Geller, 2006. "Insecure Participation: Experiments in a One-Day Introduction to Economics, with Revised Experiments and Exercises," Economics Series 2006_32, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
- Lisa R. Anderson & Sarah L. Stafford, 2000. "Choosing Winners and Losers in a Classroom Permit Trading Game," Southern Economic Journal, Southern Economic Association, vol. 67(1), pages 212-219, July.
- Van de Walle, Bartel & Turoff, Murray, 2009. "Fuzzy relations for the analysis of traders' preferences in an information market game," European Journal of Operational Research, Elsevier, vol. 195(3), pages 905-913, June.
- Becker, William E., 2007. "Quit lying and address the controversies: there are no dogmata, laws, rules or standards in the science of economics," MPRA Paper 39958, University Library of Munich, Germany.
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