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Teaching Economics in Virtual Worlds from High School to College Graduate

Workshop is Sponsored by the International Foundation for Research in Experimental Economics Run for 6 years (2011-2016) A Total of 99 HS Students 24 Intern Mentors for 24 Teams Students Encounter Economics in Experiments Students Design and Build an Economic System Students Learn to Communicate Research

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Teaching Economics in Virtual Worlds from High School to College Graduate

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  1. Teaching Economics … in Virtual Worlds … Kevin A. McCabe Professor of Economics, Law, and Neuroscience George Mason University kmccabe@gmu.edu

  2. Features of Virtual Worlds immersive, in world user-created, build once use often persistent, start where you left off collaborative, work with others online, on your computer

  3. Virtual Worlds Servers Client Viewer Second Life Hosting Firestorm Kitely Open- Simulator Dream- World

  4. Virtual Labs for Experimental Economists Communication and visibility in public goods provision E Haruvy, SX Li, K McCabe, P Twieg - Games and Economic Behavior, 2017

  5. Research Region Welcome Region Prims Avatars Orientation Region Team 1 Region Team 2 Region Resource Region Team 3 Region Team 4 Region Examples Region

  6. CSN/IFREE Summer Workshops Encounter – Build – Communicate

  7. This Workshop is Sponsored by the International Foundation for Research in Experimental Economics "for having established laboratory experiments as a tool in empirical economic analysis, …”

  8. Some Facts About the Workshop Run for 6 years (2011-2016) A Total of 99 HS Students 24 Intern Mentors for 24 Teams Students Encounter Economics in Experiments Students Design and Build an Economic System Students Learn to Communicate Research

  9. High School Workshop Schedule Mon. – Thur. 09:00-12:00 12:00-01:00 01:00-04:00 Demonstration Experiment and Discussion Lunch (and Lunch Time Activity) Team Project Work Fri. Work All Day - Reception

  10. Discussion of Experiment

  11. LUNCH TIME!

  12. Students Plan Projects

  13. Students Present Projects

  14. Afternoon: Work on Projects

  15. Afternoon Project Discussion

  16. Afternoon: Work on Projects This is how they start. They have arrived

  17. Starting to build Terraforming

  18. Scripting Ready to run

  19. Virtual World Experiments Econ. 895 Econ. 496

  20. HYPERINFLATION Chris Messier

  21. Environment

  22. Environment Automated gov’t player introduced in round 3 Government has same utility function as players Makes purchases every 10 seconds using the market Purchases are made by ‘printing’ money Purchases made within 125% of the highest price

  23. Institution Double Auctions 1. Improvement Rule 2. Bids and Asks in Tokens

  24. Trade Networks Peter Twieg

  25. Trust Network Experiment R C R C Teleporter to Villages Ring Harvester R Circle Harvester C Open chat through keyboard when in proximity

  26. Production and Value 10 cents { 40 cents 160 cents Within Village 10 cents { 40 cents Between Village

  27. Increasing Value by Sharing Harvesters S1 S2

  28. Increasing Value by Barter Within Village t t+2 S1 S2 t+2 t+1

  29. Increasing Value by Barter Between Villages t t+2 S1 S2 t+2 t+1

  30. Session 4 Red (Rich), Green (Poor), Blue (Poor) 10000 Income 9000 8000 7000 6000 R G B 5000 4000 3000 2000 1000 0 Period 1 2 3 4 5 6

  31. Trade Network (Period 1) Session 4 (Rich-Poor-Poor) R1 R2 R3 R4 G1 G2 G3 G4 B1 B2 B3 B4 0 0 0 0 0 0 0 0 15 1 0 0 0 15 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 21 20 0 0 0 0 0 0 0 0 0 0 25 5 0 0 0 0 20 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 R1 R2 R3 R4 G1 G2 G3 G4 B1 B2 B3 B4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 2 0 0 0 0 0 0 0 0 0 0 0

  32. Trade Network (Period 2) Session 4 (Rich-Poor-Poor) R1 R2 R3 R4 G1 G2 G3 G4 B1 B2 B3 B4 0 10 15 0 0 0 R2 10 0 0 0 0 R3 15 0 0 6 0 R4 0 0 7 0 0 G1 0 0 0 0 0 G2 0 0 0 0 7 G3 0 0 0 0 0 G4 0 0 0 0 0 10 B1 0 0 0 0 0 B2 0 0 0 0 0 B3 0 0 0 0 0 B4 0 0 0 0 0 R1 0 0 0 0 0 5 10 0 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7 0 0 7 0 0 0 0 0 0 0 0 0

  33. Chat Network (Period 1) Session 4 (Rich-Poor-Poor) R1 R2 R3 R4 G1 G2 G3 G4 B1 B2 B3 B4 0 0 0 1 0 0 3 0 5 7 0 0 3 3 0 0 0 0 1 6 2 0 0 0 0 0 0 0 0 5 0 0 0 0 4 0 0 0 0 0 17 11 0 0 0 0 11 3 18 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 R1 R2 R3 R4 G1 G2 G3 G4 B1 B2 B3 B4 0 0 0 0 6 4 0 47 0 0 0 0 9 4 0 0 0 0 0 0 0 0 0 5 7 0 0 0 0 0 0 0 0 6 0 8 0 0 0 0 0 0 0 0 2 3 0 7 0 0 0 0 0 0 0 0 5 4 2 0 0 0 0 0 0 10 13 0 0 0 0

  34. Thank you

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