Variations on a Theme: The Double-Oral Auction Market and Voluntary Contribution Mechanism Experiments

Noelwah Netusil

Review of Agricultural Economics, 2000, vol. 22, issue 1, 267-284

Abstract: The double-oral auction and voluntary contribution mechanism experiments are the two most commonly used classroom experiments. In addition to running these experiments to illustrate market equilibrium and free riding, variations can be introduced to demonstrate more complex points. Several extensions to these experiments have been reported in the literature. In addition to compiling existing extensions, new extensions are presented and discussed with results from classroom trials at Reed College.

Date: 2000
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