The paper presents a classroom experiment designed to improve undergraduate students' understanding of how banks create …

More than three decades of intense interest in and scholarship about the determinants of student learning of economics … success. Based on data from a natural experiment, we estimate the gains in student cognitive achievement in an introductory … learning that they can implement …

ambiguous lotteries. In the second experiment the sample averages do not converge.If we define fictive learning in an experiment …, then we expect fictive learning in the first experiment, but no fictive learning in the second experiment. The surprising … finding in this paper is the presence of fictive learning in the second experiment. We attribute this counterintuitive result …

peer splits. These results are consistent with social learning from peers' actions and outcomes. The unique features of the …