This article describes the use of an auction-trading market simulation in a 75-minute class to teach the different ways in which markets approach equilibrium.
Lederman, L. C.
(1992). Debriefing: Toward a systematic assessment of theory and practice. Simulation & Gaming, 23, 145-160.
2.
Smith, V.
(1962). An experimental study of competitive market behavior. Journal of Political Economy, 70, 111-137.
3.
Joyce, P.
(1984). The Walrasian tâtonnement mechanism and information. Rand Journal, 15, 416-425.
4.
Keating, B.
(1979). Simulation gaming in the managerial economics course. Journal of Economic Education, Spring, 65-67.
5.
Petranek, C. F.
, Corey, S., & Black, R. (1992). Three levels of learning in simulations: Participating, debriefing, and journal writing. Simulation & Gaming, 23, 174-185.
6.
Plott, C.
(1982). Industrial organization theory and experimental economics. Journal of Economic Literature, 22, 1485-1527.
7.
Smith, V.
(1982). Markets as economizers of information: Experimental examination of the 'Hayek Hypothesis.'Economic Inquiry, 20, 165-179.
8.
Steinwachs, B.
(1992). How to facilitate a debriefing. Simulation & Gaming, 23, 186-195.