Using a Simple Contest to Illustrate Mechanism Design

Autor/in	Blackwell, Calvin
Titel	Using a Simple Contest to Illustrate Mechanism Design
Quelle	In: Journal of Economic Education, 42 (2011) 4, S.375-387 (13 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
DOI	10.1080/00220485.2011.606088
Schlagwörter	Economics Education; Incentives; Competition; Class Activities; Discussion (Teaching Technique); College Instruction + Suchen Sie Ihr Suchwort? Wirtschaftskunde; Anreiz; Wettkampf; Hochschullehre
Abstract	This article describes a simple classroom activity that illustrates how economic theory can be used for mechanism design. The rules for a set of contests are presented; the results typically obtained from these contests illustrate how the prize structure can be manipulated in order to produce a particular outcome. Specifically, this activity is designed to show how changing the prize structure can impact both the contestants' average efforts and the effort level of the hardest-working contestant. The activity can be run in a 50-minute class, has instructions that fit on a single piece of paper, and, although it can be run in large classes, requires only six students. (Contains 1 figure, 2 tables, and 5 notes.) (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10