The authors adapted a lab-in-the-field experiment emulating the dynamic extraction of a fishery to create a Web-based classroom experiment. The game includes a multi-player version analogous to an open-access problem and a single-player version analogous to the social planner problem. This game is helpful in introductory microeconomics courses to…

Health insurance policy is a current topic of concern for the United States. The classroom game discussed here provides students with a thorough understanding of some of the policy options under debate, in addition to demonstrating the classic problem of adverse selection. Students received probabilities of encountering a variety of medical…

The author presents a simple geometric method to graphically illustrate the expected utility from a gamble with more than two possible outcomes. This geometric result gives economics students a simple visual aid for studying expected utility theory and enables them to analyze a richer set of decision problems under uncertainty compared to what…

Recommends reviewing the 1958 debate between P. A. Samuelson and J. R. Minasian over the controversy involving tax-financed television versus pay-TV. This exercise is a lively way to introduce students to the issue of exclusionary devices for public goods. Includes graphical analysis and excerpts from the original debates. (MJP)