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classroom experiment that serves as an empiricial test of Adam Smith's invisible- hand hypothesis. It demonstrates that … competition acts as a discovery procedure. The experiment is of high didactical value, since the students gain insights into …
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Many economists find that classroom experiments using the Double Auction (DA) trading institution are an effective pedagogical tool in introductory economics classes. Results of such experiments reliably illustrate the concepts and descriptive relevance of the theory of competitive equilibrium...
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Many economists find that classroom experiments using the Double Auction (DA) trading institution are an effective pedagogical tool in introductory economics classes. Results of such experiments reliably illustrate the concepts and descriptive relevance of the theory of competitive equilibrium...
Persistent link: https://www.econbiz.de/10014113944