Pit Market 2.0
Table of contents
About the classroom game
We have developed a computerized version of Charles Holt's classical market game that can be used even in classes with a large audience. The Pit market game gives students intuitive access to the interaction of supply and demand in real-world markets. Even though trade can take place at non-uniform prices in the classroom game, the average price and the quantity traded are usually very close to the equilibrium values predicted by supply and demand curves. The classroom game can also be used for a lively discussion about the efficiency of markets or to show the consequences of taxes and regulatory interventions.
Literature
Markwardt, G., Seidel, A., Thum, M.: "Classroom Games: Trading in a Pit Market 2.0", CEPIE Working Paper 04/16.
Contact
If you are interested in using the software, please send an e-mail to one of the authors:
Credits
Game design: Markwardt, G., Seidel, A., Thum, M. (2015): TU-Dresden.
Game idea: Holt, C. A. (2015): Classroom Games Trading in a Pit Market, Journal of Economic Perspectives, 10 (1), 193-203.
Game implementation: Kretzschmar, T., Weinrich, D., Paulick, J., Yang, X. Jähn, L. (2015): TU Dresden.