Thursday, December 3, 2009

How much will students bid for a jar of coins?

If you are behind on your mortgage, try auctioning off a jar of coins in class.  These are the bids from two sections of Managerial Economics (for MBA's) for a jar with $26 in it.  Justify the profit by saying you were only teaching them how to avoid the winner's curse in common value auctions. 

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