Abstract
A classroom experiment is an effective device to introduce and illustrate new economic concepts. This paper describes the author's experience implementing the classic double oral auction experiment in a high school computer lab, in four classes, with students trading in a virtual market for books, using commercial online software designed for college use. The goal was to run each class through this experiment for five rounds, using a standard lab with no special software, in one class period of 50 minutes. I randomly selected one school experiment, and compared the results with a college class that had done the same experiment, according to three indicators - transactions history, aggregate efficiency, and distribution of excess gain. By the fifth round the school students' performance was comparable to that of college students. I conclude that commercial web-based college level economic experiments offer school teachers a viable way to perform experiments.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
