Classroom Games: Trading in a Pit Market
- (pp. 193-203)
AbstractThis 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.
Citation1996. "Classroom Games: Trading in a Pit Market." Journal of Economic Perspectives, 10(1): 193-203. DOI: 10.1257/jep.10.1.193
- A22 Economic Education and Teaching of Economics: Undergraduate