A Monopoly Classroom Experiment

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A Monopoly Classroom Experiment

Author Info

Robert J. Oxoby (University of Calgary)

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Robert J. Oxoby

Abstract

The author uses a simple classroom experiment to develop the economic model of monopoly. As a pedagogical tool, the experiment introduces students to the nature of the monopoly problem and motivates them to think of the associated efficiency issues as a divergence between private benefits and social contributions. As a test of economic principles, the experiment highlights the role of information and fairness ideals in determining economic outcomes.

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Publisher Info
Article provided by Helen Dwight Reid Foundation in its journal The Journal of Economic Education.

Volume (Year): 32 (2001)
Issue (Month): 2 ()
Pages: 160-168
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Handle: RePEc:jee:journl:v:32:y:2001:i:2:p:160-168

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Find related papers by JEL classification:
A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
D42 - Microeconomics - - Market Structure and Pricing - - - Monopoly

References listed on IDEAS
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.:

Prasnikar, Vesna & Roth, Alvin E, 1992. "Considerations of Fairness and Strategy: Experimental Data from Sequential Games," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 865-88, August. [Downloadable!] (restricted)
Thaler, Richard H, 1988. "The Ultimatum Game," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 195-206, Fall. [Downloadable!] (restricted)

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Cited by:
(explanations, 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.)

Simon GÃ¤chter & Christian ThÃ¶ni & Jean-Robert Tyran, 2006. "Cournot Competition and Hit-and-Run Entry and Exit in a Teaching Experiment," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 37(4), pages 418-430. [Downloadable!]
Cheung, Stephen L., 2003. "On the Use of Classroom Experiments in 'Aligned' Teaching," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 33(1), pages 61-72, March. [Downloadable!]
Niven Winchester, 2006. "A Classroom Tariff-Setting Game," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 37(4), pages 431-441. [Downloadable!]

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This page was last updated on 2009-12-21.

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