Markets, Games, and Strategic Behavior
Students become fluent in economics when they can apply the concepts in a real, decision-making and strategic environment. For this reason, an increasing number of professors are incorporating experiments into their undergraduate courses.\ In his new text, Charles Holt begins each chapter with a lead-off experiment designed as an organizing device to introduce economic concepts such as the Winner's Curse, Asset Market Bubbles, and Rent Seeking. These experiments are easy to facilitate in the...
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Students become fluent in economics when they can apply the concepts in a real, decision-making and strategic environment. For this reason, an increasing number of professors are incorporating experiments into their undergraduate courses.In his new text, Charles Holt begins each chapter with a lead-off experiment designed as an organizing device to introduce economic concepts such as the Winner's Curse, Asset Market Bubbles, and Rent Seeking. These experiments are easy to facilitate in the classroom, and may be run “by hand” or online via an internet browser.
Part I. Basic Concepts: Decisions, Game Theory, and Market Equilibrium Chapter 1. Introduction Chapter 2. A Pit Market Chapter 3. Some Simple Games: Competition, Coordination, and Guessing Chapter 4. Risk and Decision Making Chapter 5. Randomized Strategies Part II. Market ExperimentsChapter 6. Monopoly and Cournot Markets Chapter 7. Vertical Market Relationships Chapter 8. Market Institutions and Power Chapter 9. Collusion and Price Competition Chapter 10. Market Failure Due to Unraveling: Lemons and Matching Markets Chapter 11. Asset Markets and Price Bubbles Part III. Bargaining and Behavioral Labor Economics Chapter 12. Ultimatum Bargaining Chapter 13. Trust, Reciprocity, and Principal-Agent Games Part IV. Public Choice Chapter 14. Voluntary Contributions Chapter 15. The Volunteer's Dilemma Chapter 16. Externalities, Congestion, and Common Pool Resources Chapter 17. Rent Seeking Chapter 18. Voting and Politics Experiments Part V. Auctions Chapter 19. Private Value Auctions Chapter 20. The Takeover Game Chapter 21. Common-Value Auctions and the Winner's Curse Chapter 22. Multi-Unit and Combinatorial Auctions Part VI. Behavioral Game Theory: Treasures and Intuitive Contradictions Chapter 23. Multi-Stage Games Chapter 24. Generalized Matching Pennies Chapter 25. The Traveler's Dilemma Chapter 26. Coordination Games Part VII. Individual Decision Experiments Chapter 27. Probability Matching Chapter 28. Lottery Choice Anomalies Chapter 29. ISO (in Search of …) Part VIII. Information, Learning, and Signaling Chapter 30. Bayes' Rule Chapter 31. Information Cascades Chapter 32. Statistical Discrimination Chapter 33. Signaling Games Chapter 34. Prediction Markets References Index Class Experiments
