Vecon Lab Experimenting with Economics: Suggested Course Sequence

Topic 1: Trust and Trustworthiness
(Pass and Return Game)
Topic 1: Bargaining
(Ultimatum and 2-Stage Bargaining)
Topic 2: Specialization and Gains from Trade (PPF)
(No-trade followed by trade and communications: students learn to specialize.)
Topic 3: Marginal Values, Demand, Tax Effects, Step Function Graphs
(Simple enough for pre-class homework, with relative payoff feedback.)
Topic 3: Marginal and Average Products
(Simple enough for pre-class homework, with relative payoff feedback.)
Topic 4: Call Market Supply and Demand, Efficiency, Floor/Ceiling, Shifts
(Default setup with approximately linear S and D facilitates efficiency discussions.)
Topic 5: Marginal Cost and Supply with an Emissions Allowance Application
(Option to show relative earnings helps students recognize opportunity cost.)
Topic 6: Supply with Fixed Costs (Avoicable or Unavoidable)
(Option to show relative earnings helps students recognize sunk costs.)
Topic 7: Monopoly and Oligopoly
(Cournot with group size of 1 is monopoly.)
Topic 8: Voluntary Contributions
(Free Riding, Punishments)
Topic 9: Tragedy of the Commons
(Social Costs of Congestion, Fees)
Topic 10: Lobbying
(inefficiency of non-market allocations)
Topic 11: Risk Preference: Measurement
(a portfolio choice task)
Topic 11: Risk Preference: Anomalies
(Allais and upside risk)
Topic 12: Games: Prisoners' Dilemma, Coordination, Battle of Sexes
(Major social dilemma and coordination paradigms)
Topic 13: Common Value Auction
(selection effects and the winner's curse)
Topic 14: Bank Runs
(deposit insurance effects)
Topic 15: Asset Prices
(present and future values)
Topic 16: Macro Markets Under Construction
(unemployment, inflation, real wages, fiat money)
View Results View Results of Any Prior Setup

Auctions, Bargaining, Decisions, Finance, Games, Information, Markets, Public, Macro Principles, Main Menu

Vecon Lab - June 21, 2024