Journal of Economic Perspectives: Vol. 10 No. 1 (Winter 1996)
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Classroom Games: Trading in a Pit Market
Holt, Charles A. 1996. "Classroom Games: Trading in a Pit Market." Journal of Economic Perspectives, 10(1): 193-203.
This paper describes a classroom exercise that resembles trading in the 'pit' of some financial and futures markets. Playing cards are used to induce supply and demand functions. Instructions and helpful hints are provided. The exercise facilitates an understanding and appreciation of the robustness and efficiency of the textbook model of perfect competition.
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Holt, Charles A. (U VA)
A22: Economic Education and Teaching of Economics: Undergraduate
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