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This 30-minute simulation brings economic policy making to life by allowing students to make monetary and fiscal policy decisions and consider their impact on the economy of a fictional country. Students manage the economy through a 7-year business cycle in an effort to maximize the approval rating from their population.
The ultimatum game is a game that has become a popular instrument of economic experiments. An early description is by Nobel laureate John Harsanyi in 1961. [1] One player, the proposer, is endowed with a sum of money. The proposer is tasked with splitting it with another player, the responder (who knows what the total sum is).
Public goods games investigate the incentives of individuals who free-ride off individuals who are contributing to the common pool. A public goods game investigates behavioural economics and the actions of the players in the game. In this process, it seeks to use behavioural economics to understand the decisions of its players.
Chance. high. Website. www.farmgame.com. The Farming Game is a board game simulating the economics of a small farm. Published in 1979, it was designed by George Rohrbacher, a rancher in Washington state. The Farming Game painfully reflects the real-life difficulties of running a farm. The names and places in the game are the names of families ...
Strategy. Game theory is the study of mathematical models of strategic interactions. [1] It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. [2] Initially, game theory addressed two-person zero-sum games, in which a participant's gains or losses are exactly ...
An economic simulation board game is a board game that simulates some level of an economy. Subcategories. This category has only the following subcategory. M.
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