Competitive Equilibrium and Classroom Pit Markets for the Early 21st Century
نویسنده
چکیده
Small efforts to display the relevance of economic concepts early on in a student’s education can serve to prevent the “economics is not very useful” attitude from setting in. This paper extends the work of Holt (1996) to describe a pitmarket experiment used to illustrate the concept of competitive equilibrium. In addition to detailed instructions as to how to set up and conduct a pit-market experiment, features of the data are discussed and many accompanying materials, including software for the display of the data, are provided. keywords: competitive equilibrium, pit market, classroom experiment, experimental economics ∗I thank Rachel Croson for valuable comments. The materials discussed in this paper are available for download at the author’s website: http://econ.bgu.ac.il/facultym/bradley/pitmarket.zip.
منابع مشابه
Management Accounting Education for the 21st Century Firms
Management accounting has become a subject of hot debates over the last four decades and has undergone a major transformation. It is argued that traditional management accounting roles have either disappeared or been changed. The debate is based on the belief that roles of ‘Management Accountants’ require new forms of education and training, with more emphasis on the practicality of the subjec...
متن کاملPronunciation Barriers and Computer Assisted Language Learning (CALL): Coping the Demands of 21st Century in Second Language Learning Classroom in Pakistan
Pronunciation of English language is a very important sub-skill of speaking module in second language learning process. However, it is ignored, neglected, and even never gotten least attention by the teachers, administrators, and stakeholders especially in Pakistan. Grammar, vocabulary, and the other linguistic skills such as reading and writing are emphasized whereas pronunciation has never be...
متن کاملA Security Effective Structure for National Defense in the 21st Century
In accordance with human necessities and deep attention into security, research studies have today became an irrefutable necessity in this area. It is noted that traditional concepts of this important issue have changed, as a result of occurring various events in the past, particularly in the 20th century; so that security is no more limited to protecting human beings against individual and col...
متن کاملTo Have an Ethos Transplant, as It Were: Iranian Organizations in Washington DC in Early 21st Century
Based on eighteen months of ethnographic fieldwork from 2004 to 2006 among a range of Iranian organizations in Washington, D.C., this article argues that the studied organizations were engaged, without being always necessarily aware of it or formulating it as such, in what we may call an “ethos transplant:” a transformation of “Iranian character” and political culture to make it more susceptibl...
متن کاملModeling in the Classroom Using Squeak Etoys
Teachers have a significant responsibility when it comes to preparing their students for the future. This is a future beyond statewide testing initiatives and the upcoming school year. Some states have adopted standards focusing on preparation for the 21st century. The guiding mission of these standards is that every public school student will graduate from high school globally competitive for ...
متن کامل