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Classroom Games: Trading in a Pit Market 2.0

We have developed a computerized version of Charles Holt’s classical market game that can be used even in classes with a large audience. The Pit market game gives students intuitive access to the interaction of supply and demand in real-world markets. Even though trade can take place at non-uniform prices in the classroom game, the average price and the quantity traded are usually very close to the equilibrium values predicted by supply and demand curves. The classroom game can also be used for a lively discussion about the efficiency of markets or to show the consequences of taxes and regulatory interventions.

Identiferoai:union.ndltd.org:DRESDEN/oai:qucosa.de:bsz:14-qucosa-210692
Date29 September 2016
CreatorsMarkwardt, Gunther, Seidel, André, Thum, Marcel
ContributorsTechnische Universität Dresden, Faculty of Business and Economics
PublisherSaechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden
Source SetsHochschulschriftenserver (HSSS) der SLUB Dresden
LanguageEnglish
Detected LanguageEnglish
Typedoc-type:workingPaper
Formatapplication/pdf
Relationdcterms:isPartOf:CEPIE Working Paper ; 04/16

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