A classroom market experiment: Data and reflections

References

• Allgood, S., W. B. Walstad, and J. J. Siegfried. 2015. Research on teaching economics to undergraduates. Journal of Economic Literature 53 (2): 285–325. doi: 10.1257/jel.53.2.285.
   Web of Science ®Google Scholar
• Bergstrom, T. C. 2004. Experimental markets and Chamberlin’s excess trading conjecture. Ted Bergstrom Papers. Santa Barbara, CA: University of California, Santa Barbara.
   Google Scholar
• Bergstrom, T. C., and E. Kwok. 2005. Extracting valuable data from classroom trading pits. Journal of Economic Education 36 (3): 220–35.
   Web of Science ®Google Scholar
• Bergstrom, T. C., and J. Miller. 1999. Experiments with economic principles: Microeconomics. New York: McGraw-Hill/Irwin.
   Google Scholar
• Carter, L. K., and T. L. Emerson. 2012. In-class vs. online experiments: Is there a difference? Journal of Economic Education 43 (1): 4–18.
   Web of Science ®Google Scholar
• Chamberlin, E. H. 1948. An experimental imperfect market. Journal of Political Economy 56 (2): 95–108. doi: 10.1086/256654.
   Web of Science ®Google Scholar
• DeYoung, R. 1993. Market experiments: The laboratory versus the classroom. Journal of Economic Education 24 (4): 335–51.
   Web of Science ®Google Scholar
• Durham, Y., T. McKinnon, and C. Schulman. 2007. Classroom experiments: Not just fun and games. Economic Inquiry 45 (1): 162–78. doi: 10.1111/j.1465-7295.2006.00003.x.
   Web of Science ®Google Scholar
• Emerson, T. L., and L. K. English. 2016a. Classroom experiments: Is more more? American Economic Review 106 (5): 363–67. doi: 10.1257/aer.p20161054.
   Web of Science ®Google Scholar
• ———. 2016b. Classroom experiments: Teaching specific topics or promoting the economic way of thinking? Journal of Economic Education 47 (4): 288–99.
   Web of Science ®Google Scholar
• Giamattei, M., and H. Llavador. 2017. Teaching microeconomic principles with smartphones—Lessons from classroom experiments with classEx. Working paper. Rochester, NY: SSRN-Elsevier. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3157026.
   Google Scholar
• Grol, R., E. M. Sent, and B. de Vries. 2017. Participate or observe? Effects of economic classroom experiments on students’ economic literacy. European Journal of Psychology of Education 32 (2): 289–310. doi: 10.1007/s10212-016-0287-8.
   Web of Science ®Google Scholar
• Holt, C. A. 1996. Classroom games: Trading in a pit market. Journal of Economic Perspectives 10 (1): 193–203. doi: 10.1257/jep.10.1.193.
   Web of Science ®Google Scholar
• Holt, C. A. 1999. Teaching economics with classroom experiments: A symposium. Southern Economic Journal 65 (3): 603–10.
   Web of Science ®Google Scholar
• Kaplan, T. R., and D. Balkenborg. 2010. Using economic classroom experiments. International Review of Economics Education 9 (2): 99–106. doi: 10.1016/S1477-3880(15)30047-5.
   Google Scholar
• Ketcham, J., V. L. Smith, and A. W. Williams. 1984. A comparison of posted-offer and double-auction pricing institutions. The Review of Economic Studies 51 (4): 595–614. doi: 10.2307/2297781.
   Web of Science ®Google Scholar
• Lamont, O. A., and R. H. Thaler. 2003. Anomalies: The law of one price in financial markets. Journal of Economic Perspectives 17 (4): 191–202. doi: 10.1257/089533003772034952.
   Web of Science ®Google Scholar
• Laury, S. K., and C. A. Holt. 1999. Multimarket equilibrium, trade, and the law of one price. Southern Economic Journal 65 (3): 611–21.
   Web of Science ®Google Scholar
• Lin, P. H., A. L. Brown, T. Imai, J. T. Y. Wang, S. W. Wang, and C. F. Camerer. 2020. Evidence of general economic principles of bargaining and trade from 2,000 classroom experiments. Nature Human Behaviour 4 (9): 917–27. doi: 10.1038/s41562-020-0916-8.
   PubMed Web of Science ®Google Scholar
• Lin, T. C. 2018. Using classroom game play in introductory microeconomics to enhance business student learning and lecture attendance. Journal of Education for Business 93 (7): 295–303. doi: 10.1080/08832323.2018.1493423.
   Web of Science ®Google Scholar
• Lin, T. C. 2020. Effects of classroom experiments on student learning outcomes and attendance. International Journal of Education Economics and Development 11 (1): 76–93. doi: 10.1504/IJEED.2020.104295.
   Google Scholar
• Pratt, J. W., D. A. Wise, and R. Zeckhauser. 1979. Price differences in almost competitive markets. The Quarterly Journal of Economics 93 (2): 189–211. doi: 10.2307/1883191.
   Web of Science ®Google Scholar
• Smith, V. L. 1962. An experimental study of competitive market behavior. Journal of Political Economy 70 (2): 111–37. doi: 10.1086/258609.
   Web of Science ®Google Scholar
• Smith, V. L., A. W. Williams, W. K. Bratton, and M. G. Vannoni. 1982. Competitive market institutions: Double auctions vs. sealed bid-offer auctions. The American Economic Review 72 (1): 58–77.
   Web of Science ®Google Scholar