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)
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- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
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