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A Monopoly Classroom Experiment

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  • Robert J. Oxoby

Abstract

The author uses a simple classroom experiment to develop the economic model of monopoly. As a pedagogical tool, the experiment introduces students to the nature of the monopoly problem and motivates them to think of the associated efficiency issues as a divergence between private benefits and social contributions. As a test of economic principles, the experiment highlights the role of information and fairness ideals in determining economic outcomes.

Suggested Citation

  • Robert J. Oxoby, 2001. "A Monopoly Classroom Experiment," The Journal of Economic Education, Taylor & Francis Journals, vol. 32(2), pages 160-168, January.
    • Handle: RePEc:taf:jeduce:v:32:y:2001:i:2:p:160-168
    DOI: 10.1080/00220480109595181
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    Cited by:

    1. Lin, Yu-Hsuan, 2021. "A classroom experiment on the specific factors model," International Review of Economics Education, Elsevier, vol. 37(C).
    2. Korbinian von Blanckenburg & Milena Neubert, 2014. "Monopoly Profit Maximization: Success and Economic Principles," Working Papers 1406, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 25 Nov 2014.

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