Classroom Games: Trading in a Pit Market

Charles Holt

Journal of Economic Perspectives, 1996, vol. 10, issue 1, 193-203

Abstract: 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.

JEL-codes: A22 (search for similar items in EconPapers)
Date: 1996
Note: DOI: 10.1257/jep.10.1.193
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Citations: View citations in EconPapers (37)

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