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Wealth Distribution and Imperfect Factor Markets: A Classroom Experiment

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Author Info
Denise L. Stanley () (California State University, Fullerton)

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Abstract

The author presents a simple exercise to demonstrate how initial property distribution can affect final wealth patterns in developing areas of the world. The simulation is a variant of the Monopoly board game in which students role play different members of a market in which they each face different rules of credit access and salary patterns. The property distribution and new mortgage rules reflect the reality of many developing areas. The simulation can be completed in one full class period and has proven successful in making students more sensitive to wealth distribution issues. Students have suggested several variations of this simulation to make it applicable across more settings.

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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): 4 ()
Pages: 344-355
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Handle: RePEc:jee:journl:v:32:y:2001:i:4:p:344-355

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Related research
Keywords: market institutions; Monopoly; wealth distribution;

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Find related papers by JEL classification:
A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

References listed on IDEAS
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  1. Galor, Oded & Zeira, Joseph, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Blackwell Publishing, vol. 60(1), pages 35-52, January. [Downloadable!] (restricted)
  2. Alesina, Alberto & Rodrik, Dani, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 109(2), pages 465-90, May. [Downloadable!] (restricted)
    Other versions:
  3. James Stodder, 1998. "Experimental Moralities: Ethics in Classroom Experiments," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 29(2), pages 127-138. [Downloadable!]
  4. Donna M. Kish-Goodling, 1998. "Using The Merchant of Venice in Teaching Monetary Economics," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 29(4), pages 330-339. [Downloadable!]
  5. Swaminathan, Madhura, 1991. "Segmentation, Collateral Undervaluation, and the Rate of Interest in Agrarian Credit Markets: Some Evidence from Two Villages in South India," Cambridge Journal of Economics, Oxford University Press, vol. 15(2), pages 161-78, June.
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This page was last updated on 2009-12-21.

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