Wealth Distribution and Imperfect Factor Markets: A Classroom Experiment
AbstractThe 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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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal The Journal of Economic Education.
Volume (Year): 32 (2001)
Issue (Month): 4 (January)
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