A Personal Note on Match Day and our KR Matching Game

My wife is a pediatrician. In mid-March 2013 we experienced “match day”: the day where senior medical students match to a specialty-hospital pair for their residencies. For a moment stroll with me down memory lane: All the soon-to-be doctors were dressed up with family and friends in tow. There was so much chatter, excitement, hugs —the […]

Livin’ the Mug Life: Introducing the Beer Game

Ever go to the store to pick up the “beer essentials” and wondered how they got there? There are vast networks of exchange in place to get the simplest of items to our grocery store. It’s really amazing when you think of it. Our “beer game” helps students understand how supply chains operate and to illustrate […]

Monty Hall and Bayes’ Rule

In her 1990 article in Parade, columnist Marilyn vos Savant is asked about the following decision situation: Suppose you’re on a game show, and you’re given the choice of three doors: Behind one door is a car; behind the others, goats. You pick a door, say No. 1, and the host, who knows what’s behind the […]

Competitive Market: Updates

The Competitive Market Game (Continuous Double Oral Auction) is a workhorse and played by over 50 percent of instructors to help highlight a variety of market related learning objectives. Therefore, it is big news to many users whenever we make modifications. In the most recent server update there were two modifications to the Competitive Market […]

Introducing our Loan Market Game

Shout out to all my macro people! In this post we’re talking about our recently released loan market. But, I want to let you know, we are also designing more classroom experiments including a GDP accounting game and simple closed economy (with linked labor and goods markets). You called, we answered, and you can’t let the […]

Introducing our Double Marginalization Game

The concept of double marginalization can be tricky for students to grasp. How is it possible that mergers improve both industry profits and increase consumer welfare at the same time? In a newly developed game we explore this double marginalization problem. Students act as either a wholesale coffee roaster or a retail café (shown below). […]

Prisoner’s Dilemma: Matrix Form

In October I had the good pleasure of demonstrating MobLab to a 400 student class at UNC.  That day students were learning about monopolistic competition and one component of the discussion was collusion. Naturally, we decided to play the Prisoner’s Dilemma (PD) — that old workhorse for  studying the conditions under which cooperation is more […]

Bringing Crisis into the Classroom

Before the SEA meetings I lectured with MobLab at the University of Virginia. We conducted the Bank Run game with two simple objectives: Show that fractional reserve banking is inherently fragile and prone to panic, and Have students experience the same situation but with deposit insurance that reduces the downside risk of a bank run. […]

Volatile Bubble

Thar She Blows! Bubbles and Crashes with our Asset Market

It’s always tough teaching intro level courses. You must sacrifice some subtlety for clarity and you can’t get too deep in the weeds. That’s fine sometimes because simple economics is not necessarily simple-minded economics. However, there are important topics that are left on the cutting room floor. For example, this fall I have used our […]