Morten Graugaard Olsen

Economics

Abstract

"This project concerns the gradual development of an interactive game decided to get students unfamiliar with basic economics to understand the coordinating role of an economic market. Specifically, the game seeks to show that in a rather “messy” environment certain simple conditions ensure that prices converge, and that this convergence happens to a price that can be predicted. Given the unstructured nature of the game there are several ways in which the outcome can be different than predicted. The present project is specifically concerned with the weaknesses of the game and how the outcome can most easily deviate from that intended. It does so by comparing the implementation in an MBA environment and at a Bachelor’s program in Denmark (Math and Economics) and it relates it to the literature of the implementation of related, but not identical games. It finds that the game in general is robust to quite a few unforeseen events. However, it is very sensitive to just a few students refusing to follow the results. It concludes with a few reflections on how the most unusual deviations from the desired outcome can be turned around and made into learning points and with what students this game ought not to be played. "