Abstract

PALACIO GARCIA, Luis Alejandro; SARAVIA MARTINEZ, Isabel  and  VESGA CEDIEL, María Alejandra. Games in the classroom: the market of lemons. Rev.econ.inst. [online]. 2017, vol.19, n.36, pp.291-311. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v19n36.11.

Classroom games are a pedagogical tool for the appropriation of concepts and enrich traditional microeconomic classes with the methodology of experimental economics. This article presents an example of participatory research that seeks to collaboratively change the learning process. We propose the lemons-market game: an experimental protocol, programed for laboratory sessions, that motivates students to debate about adverse selection due to information asymmetries, that is, about the extent to which good-quality goods are expelled from the market by inferior-quality goods (lemons).

Keywords : economic teaching; classroom games; asymmetrical information; bargaining; experimental economics; jel: B41, C90, D03.

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