Publications [#350741] of Norbert L. Wilson

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Journal Articles

  1. Wilson, NLW; Nelson, RG. "A laboratory science approach to teaching in the agricultural economics curriculum." Review of Agricultural Economics 31.2 (May, 2009): 331-343. [doi]
    (last updated on 2026/01/19)

    Abstract:
    We argue that economic laboratory experiments can facilitate active learning of theory in the agricultural economics curriculum by placing students in decision-making roles. Three types of experimental protocols are described, along with a discussion of the costs and benefits of experiments. The Double Auction Experiment provides a platform for demonstrating concepts of equilibrium, price discovery, externalities, excess supply, surplus, and speculation. The Monopoly Experiment is a platform for demonstrating concepts of advance production, inventory carryover, monopoly pricing, and search strategies. The Oligopoly Experiment is a platform for demonstrating concepts of thin markets, coordination, and imperfectly competitive equilibria. © 2009 Agricultural and Applied Economics Association.

Norbert L. Wilson

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