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

Material for Students

It is a sunny Saturday morning at the Farmers’ Apple Market. You and your classmates have come to the Market to buy and sell apples. Demanders value apples according to their Buyer Value. Suppliers must pay their Seller Cost if they want to sell a bushel of apples. In any single round of trading, buyers cannot buy and sellers cannot sell more than one bushel of apples, nor can anyone buy or sell fractions of a bushel of apples.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.