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Dont Panic! A Hitchhikers Guide to Computerized Economic Teaching Experiments.

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Presentation on theme: "Dont Panic! A Hitchhikers Guide to Computerized Economic Teaching Experiments."— Presentation transcript:

1 Dont Panic! A Hitchhikers Guide to Computerized Economic Teaching Experiments

2 by Dieter Balkenborg Todd Kaplan Tim Miller

3 Why Experiments? They are a fun way to learn and to teach! They are a fun way to learn and to teach! Complements standard methods Complements standard methods Helps students with low math skills Helps students with low math skills Enhances credibility of our science Enhances credibility of our science Puts us on the test Puts us on the test

4 Why Using Computerized Experiments Free ride on existing resources Free ride on existing resources Little preparation Little preparation speedy speedy Automatic tabulation of results Automatic tabulation of results Some are difficult to do hand-run Some are difficult to do hand-runLimitations: Class size Class size Computing facilities Computing facilities Time constraints Time constraints

5 FEELE; veconlab, econport Three new names to learn Three new names to learn Easy to google for Easy to google for We will spend some time on each site and learn how to use them We will spend some time on each site and learn how to use them We start with a visit to We start with a visit to Classroom_Experiments Classroom_Experiments Please add your experience!

6 On our wikiversity site 1 Why use experiments in teaching economics 1 Why use experiments in teaching economics 2 List of Experiments 2 List of Experiments 3 Hints for running economic classroom experiments 3 Hints for running economic classroom experiments 4 Useful Links and Related Literature 4 Useful Links and Related Literature… Now, lets google for FEELE

7 FEELE Laboratory is mainly a research lab so look for: is mainly a research lab so look for: Access our Website of Teaching Experiments View list of experimentsView list of experiments (short descriptions) View list of experiments Experimenter accessExperimenter access (thats soon you) Experimenter access Participant accessParticipant access (enter now) Participant access

8 You are invited to participate in my experiment! Experiments are an experience good! 1. Enter participant access 2. Register for my experiment (no login yet) 3. You need the access code dgb1-dee which identifies my experiment 4. Read the instructions 5. Good luck!

9 Sample result: Bertrand I learnt that collusion can take place in a competitive market even without any actual meeting taking place between the two parties. Two Firms Fixed Partners Two Firms Random Partners Five Firms Random Partners Some people are undercutting bastards!!! Seriously though, it was interesting to see how the theory is shown in practise.

10 Now register as experimenter Code word: deadsea Code word: deadsea Next time login with your assigned password (your initials + number) and password (4-digit number ed to you, KEEP ACCESSIBLE) Next time login with your assigned password (your initials + number) and password (4-digit number ed to you, KEEP ACCESSIBLE)

11 Set up experiment New, different suffix for each session you run, your username + suffix = access code for students New, different suffix for each session you run, your username + suffix = access code for students Name: Bertrand complements, DEE Name: Bertrand complements, DEE Select type of experiment from drop- down box (Bertrand) Select type of experiment from drop- down box (Bertrand)

12 Add session Press add session Press add session View instructions View instructions Configure – initially make minimal adjustments: complementary, number of subjects, number of rounds, number of players, fixed partners Configure – initially make minimal adjustments: complementary, number of subjects, number of rounds, number of players, fixed partners View instructions View instructions (Run session, View and save results) (Run session, View and save results)

13 Veconlab (Charlie Holt) FEELE copies this design FEELE copies this design Similar registration procedure and setting up of experiment Similar registration procedure and setting up of experiment One website for students, one for participants One website for students, one for participants Dont miss the bubble experiment!!!!! Dont miss the bubble experiment!!!!!

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15 Testing a new experiment I demonstrate here how I can learn about a new experiment by I demonstrate here how I can learn about a new experiment by 1.Setting it up with a minimal number of participants 2.Open a new window for each participant and register as participant 3.Play against myself by switching between the open windows (use ALT-TAB to switch) 4.See the results in the instructors window

16 Charlie Holt U. of Virginia Creator of Veconlab Has written textbook on teaching experiments. Has written textbook on teaching experiments. Book explains both handrun and computerized Book explains both handrun and computerized

17 EconPort (James Cox) The Best for: 1. Vernon Smiths double auction (graphs! Adding excise taxes!) 2. Charlie Plotts asset market 3. General normal form games 4. Extensive games Also: handbook, resources

18 How to use EconPort 1 1. Java must be installed, testing necessary! 2. First: Configurations: ADD A NEW GROUP (No changes in group public configurations) 3. DO NOT CREATE NEW CONFIGURATION YOURSELF!!

19 How to use EconPort 2 1. Now go via tab to Experiments 2. Choose documentation, e.g. on marketlink or check the teaching module sections. 3. In the documentation you find standard configurations, e.g. for excise taxes in a competitive market, which you can add to your newly created configuration group. This configuration can then be edited. 4. Create a new group in your experiments 5. There you add the configuration as often as you want to run a new session. Per group you can only have one experiment at a time running. 6. It is a great software!!!

20 Thanks Thank you for your attendance, I hope we got you interested Thank you for your attendance, I hope we got you interested For short questions you can me on (have teaching experiment in the title!) For short questions you can me on (have teaching experiment in the title!) Possibility of hands-on sessions in UK universities Possibility of hands-on sessions in UK universities Thanks to the economic network for continuous support + Charlie Holt + James Cox Thanks to the economic network for continuous support + Charlie Holt + James Cox


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