Material Detail

The Value of Exchange: A Classroom Experiment

This experiment illustrates the value of exchange to students. Students each receive an initial allocation of candy which they are asked to rank in terms of the satisfaction it provides them. They are then allowed to engage in trading with other students. After each round of trading, students are asked to reevaluate the satisfaction they derive from the new set of candy that they have. Through this process, students see that they are made better...

Disciplines:

Business / Economics / Micro

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More about this material

Material Type:: Drill and Practice
Date Added to MERLOT:: January 2, 2023
Date Modified in MERLOT:: March 9, 2023
Author:: Tisha Emerson, Baylor University
Submitter:: Cathy Swift

Primary Audience:: College General Ed, College Lower Division
Technical Format:: Website
Mobile Compatibility:: Not specified at this time
Language:: English
Cost Involved:: No
Source Code Available:: Unknown
Creative Commons:: This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International