Ticket trading
(experiment, demonstration)
Students are given tickets and asked to report their willingness to pay for their assigned ticket; they are then given an opportunity to trade and willingness to pay is re-calculated. Extensions include restricting and then opening who students can trade with, and allowing students to place monetary bids for certain tickets.
- For larger classes, can be done with a sub-set of students as a demonstration for the rest of the class. Have students predict what will happen to total social benefit between rounds.
- Can follow with discussion of allocation mechanisms by asking students for alternative ways to allocate the tickets. Please see Trade Clicker Questions document.
