A Monopoly Classroom Experiment

Robert Oxoby

The Journal of Economic Education, 2001, vol. 32, issue 2, 160-168

Abstract: The author uses a simple classroom experiment to develop the economic model of monopoly. As a pedagogical tool, the experiment introduces students to the nature of the monopoly problem and motivates them to think of the associated efficiency issues as a divergence between private benefits and social contributions. As a test of economic principles, the experiment highlights the role of information and fairness ideals in determining economic outcomes.

Date: 2001
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DOI: 10.1080/00220480109595181

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