Keynes guessing game 2

Beauty is in the Eye of Another Beholder: The Guessing Game

In The General Theory of Employment, Interest, and Money, John Maynard Keynes wrote about an instability in markets that emerged from a “spontaneous urge to action.” The idea was that traders did not calculate the expected value of an asset but operated on another premise, something so nebulous that it was dubbed “animal spirits.” One […]

Incomplete Contracts and the Role of Trust: Nobel Edition

Trade creates value. It is one of the most fundamental economic lessons. But, trade does not occur in a vacuum. There are important institutional (e.g. the design of contracts and resolving contract disputes) and social (e.g. trust) supports needed for market activity. This morning the Nobel Prize was awarded to two economists who have done […]

MobDrive Featured IMage

Production Entry/Exit Game

Our Production Entry/Exit game MobLab puts the verb: “compete” in competition. This game will demonstrate the market process to students as each student supplies ride-sharing services with a fictitious company MobDrive. Basic Set Up First, students see our “Profit Predictor” screen and can evaluate hypotheticals. For example, in the panel below a student is able […]

Scheduler

Teaching With Our Online Scheduler

You may have noticed this new-fangled icon in your playlist. Our scheduler was born from the growing demand for playing our games outside of class. Life before the scheduler involved instructors (or their TAs) pressing the “Run Game” button for each game or survey in a playlist. No more. If you’re running games and surveys […]