The Apple Market: A simple trading-pit experiment

An experiment from the book Experiments with Economic Principles by Theodore C. Bergstrom, Marcus Giamattei, Humberto Llavador and John H. Miller. The experiment and warm-up exercises are located in the econ-class experiments folder within classEx,

Photo by Kotagauni Srinivas on Unsplash

This is a simple trading-pit experiment and is a good first encounter of students with an experiment. It gets students thinking about how markets work. It also introduces the concepts of supply and demand, as well as of buyer surplus and seller profits.

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