Your Place in Space: Classroom Experiment on Spatial Location Theory
AbstractThe authors detail an urban economics experiment that is easily run in the classroom. The experiment has a flexible design that allows the instructor to explore how congestion, zoning, public transportation, and taxation levels determine the bid-rent function. Heterogeneous agents in the experiment compete for land use utilizing a simple auction mechanism. Using the data that is collected, a bid-rent function is derived, and the experimental treatment is altered over the course of three sessions to uncover core concepts in urban economics. Moreover, this provides a tangible experience that can be used to help undergraduates relate to urban issues such as the steep rent gradient found around many larger colleges and universities.
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Bibliographic InfoPaper provided by Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University in its series Experimental Economics Center Working Paper Series with number 2008-09.
Date of creation: May 2008
Date of revision:
Find related papers by JEL classification:
- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
- R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
- C9 - Mathematical and Quantitative Methods - - Design of Experiments
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-05-24 (All new papers)
- NEP-CDM-2008-05-24 (Collective Decision-Making)
- NEP-EXP-2008-05-24 (Experimental Economics)
- NEP-GEO-2008-05-24 (Economic Geography)
- NEP-URE-2008-05-24 (Urban & Real Estate Economics)
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