Economic Inquiry, 35, October 1997, pp. A classroom market for extra credit: A semester-long experiment by James Staveley-O'Carroll, 2016. ("Patents and R&D: A Classroom Experiment" by Amy Diduch, IREE 2010). For advanced students, there exists a very interesting theoretical and experimental extension of this paper: "Learning in Speculative Bubbles: An Experiment" by Hong, Moinas and Pouget. Econport is another site allowing you to run a variety of experiments using the web. The experiences also provide substantial insights into the evolution of the carbon dioxide permit market, particularly related to the evolution of trade volume, permit prices and country strategies. A Stackelberg classroom experiment by Robert Rebelein and Evsen Turkay, 2016. (Kaushik Basu, "The Traveler's Dilemma: Paradoxes of Rationality in Game Theory"; American Economic Review 1994.). The proposer will make the responder a take-it-or-leave-it offer, which the responder can accept or reject. "This experiment helps students understand theories that posit coordination failure as the cause of economic fluctuations. This is just an introductory variant of the game above, where players are monopolies on their markets and with only two markets (with or without sunk cost, both markets with the same capacity constraints). Another option is What is Economy, which uses images and definitions to introduce economics. In particular, the seller can invest either el = 0€ or eh = 8€. (Reference demand data). 63-76, with support from the NSF). Gets students to privately choose firm's levels of investment, illustrating coordination failure, Portfolio Construction in Global Financial Markets by Dallas Brozik and Alina M. Zapalska, 2007. Jon Guest's case study describes using one of these experiments in a class. Note that a multiplayer version can also be found in the "Industrial organization" section. Illustrates notions such as marginal cost/average cost, variable cost/fixed cost, sunk cost, short-run/long-run cost, price discrimination (yield management), elasticity of demand, peak-load pricing... And eventually, players must choose whether or not to use vertical differentiation to soften competition. A Stackelberg classroom experiment, Can contracts solve the hold-up problem? - (1 * 0 + 32) + 0x3f) "... directly inspired by Plott and Sunder (1988). Using Context in Classroom Experiments: A Public Goods Example by John Bernard and Daria Bernard, 2005. Oligopolistic price competition for differentiated products. This product includes my best-selling economics products in one bundle. This experiment "introduces important concepts of organizational economics and incentive contracting. Bubbles usually occur with or without a cap on prices. Describes a game played on paper to introduce the concept of a public good. document.write(eval(w_)) Players are randomly and anonymously paired with another participant. Prior to bidding, each player will be given an estimate of the actual value of the item. The player manages a small firm that competes with many other on a market.