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