Double-oral Auction Activity

[steven_huang]

Double-oral auction

(experiment)

The grand-daddy of economics experiments! Students are assigned roles as buyers and sellers, and trade in a simulated market.

• There are many, many variations of this activity (see, for example, here or here). Extensions can include shifting supply or demand, imposing price controls, taxes, or trade barriers.
• For very large classes, this activity may be best done using online tools, such as Veconlab or Moblab