March Madness in the Classroom

Einolf Karl W.

Journal of Industrial Organization Education, 2006, vol. 1, issue 1, 1-11

Abstract: In this classroom exercise, instructors use the NCAA basketball tournament to help teach important concepts in auction theory, risk management, and portfolio theory. Students represent different athletic apparel companies vying for the sponsorship rights to NCAA tournament teams. Each NCAA team places its sponsorship rights on the auction block. The value of these rights is determined by exposure in the NCAA tournament. Risk management is examined by allowing students to diversify their portfolios by buying and selling full or partial shares of the sponsorship rights. The exercise simulates the many phenomena associated with auctions of commodities with unknown values.

Keywords: classroom game; auction theory; risk management; portfolio theory; expected values; sports (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jioedu:v:1:y:2006:i:1:n:3

DOI: 10.2202/1935-5041.1002

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