Publication: Journal of Economic Education
Volume: Volume 27, No. 1
Issue: Winter 1996
Pages:
Author(s): Michael J. Haupert (University of Wisconsin-LaCrosse)
Address (Principal Author):Michael J. Haupert, Department of Economics, University of Wisconsin-LaCrosse, LaCrosse, WI 54601, (608) 785-8099
Internet Address (Principal Author):
Title: An Experiment in Comparative Advantage
Abstract: This is an experiment illustrating the concepts of comparative advantage and opportunity cost. As an interactive learning technique, it gives students hands-on experience at producing a choice of two goods given inputs and a production function. Students are given a consumption goal and an opportunity to trade their output over a number of trials. The experiment is designed so that students can only achieve their consumption goal by specializing in the production of the good in which they have a comparative advantage, and then trading with other players.