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Don’t Panic!

Don’t Panic!. A Hitchhiker’s Guide to Computerized Economic Teaching Experiments. by Dieter Balkenborg Todd Kaplan Tim Miller. Why Experiments?. They are a fun way to learn and to teach! Complements standard methods Helps students with low math skills Enhances credibility of our science

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Don’t Panic!

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  1. Don’t Panic! A Hitchhiker’s 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! • Complements standard methods • Helps students with low math skills • Enhances credibility of our science • Puts us on the test

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

  5. FEELE; veconlab, econport • Three new names to learn • Easy to “google” for • We will spend some time on each site and learn how to use them • We start with a visit to http://en.wikiversity.org/wiki/Economic_Classroom_Experiments Please add your experience!

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

  7. FEELE Laboratory • is mainly a research lab so look for: “Access our Website of Teaching Experiments” View list of experiments (short descriptions) Experimenter access (that’s soon you) Participant access (enter now)

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

  9. Sample result: Bertrand Two Firms Fixed Partners Five Firms Random Partners Two Firms Random Partners “I learnt that collusion can take place in a competitive market even without any actual meeting taking place between the two parties.” “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 • Next time login with your assigned password (your initials + number) and password (4-digit number e-mailed to you, KEEP ACCESSIBLE)

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

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

  13. Veconlab (Charlie Holt) • FEELE copies this design • Similar registration procedure and setting up of experiment • One website for students, one for participants • Don’t miss the bubble experiment!!!!!

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

  15. Charlie HoltU. of Virginia Creator of Veconlab • Has written textbook on teaching experiments. • Book explains both handrun and computerized

  16. EconPort (James Cox) The Best for: • Vernon Smith’s double auction (graphs! Adding excise taxes!) • Charlie Plott’s asset market • General normal form games • Extensive games Also: handbook, resources

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

  18. How to use EconPort 2 • Now go via tab to “Experiments” • Choose documentation, e.g. on marketlink or check the teaching module sections. • 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. • Create a new group in your “experiments” • 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. • It is a great software!!!

  19. Thanks • Thank you for your attendance, I hope we got you interested • For short questions you can e-mail me on d.g.balkenborg@ex.ac.uk (have teaching experiment in the title!) • Possibility of hands-on sessions in UK universities • Thanks to the economic network for continuous support + Charlie Holt + James Cox

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