Classroom Experiments: A Useful Tool for Learning about Economic and Entrepreneurial Decisions

Javier Perote, José David Vicente-Lorente () and José Ángel Zúñiga-Vicente ()
Additional contact information
José David Vicente-Lorente: University of Salamanca
José Ángel Zúñiga-Vicente: Rey Juan Carlos University

Chapter Chapter 1 in Education Tools for Entrepreneurship, 2016, pp 1-14 from Springer

Abstract: Abstract This article discusses the implementation and advantages of classroom experiments for teaching and learning about economic and entrepreneurial decisions. We argue that this methodology is not only appealing from the students’ perspective but also is consistent with the European Higher Education Area philosophy. Particularly, classroom experiments can help to promote or reinforce different generic and specific skills (e.g. ‘auto-learning’, ‘problem-solving’, ‘capacity to adapt to new situations’ or ‘economics and managerial decision making’) and facilitate the evaluation of such skills. In this method, students play a central and proactive role throughout the whole learning process and they have the opportunity to apply theoretical concepts and train their own skills. Feedback provided by experimental outcomes help students to identify strategies that improve their own methods and rules to make better economic and entrepreneurial decisions by recognizing and correcting potential bias in their perceptions. The methodology is illustrated with a straightforward experiment designed to detect potential deviations from the rational assumption (i.e. profit maximizing behavior) when subjects face investment decisions in a context of adjustment costs and heterogeneous (physical and human) resources.

Keywords: Adjustment Cost; Output Price; Classroom Experiment; Optimal Rule; European High Education Area (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:innchp:978-3-319-24657-4_1

Ordering information: This item can be ordered from
http://www.springer.com/9783319246574

DOI: 10.1007/978-3-319-24657-4_1

Access Statistics for this chapter

More chapters in Innovation, Technology, and Knowledge Management from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().