Lottery-choice experiments are conducted to compare risk preferences revealed by three-person groups versus isolated individuals. A lottery-choice experiment consists of a menu of paired lottery choices structured so that the crossover point from a low-risk to a high-risk lottery can be used to...

This paper describes the setup of two classroom markets, one with a thin supply side and relatively higher prices. A comparison of the equilibrium price tendencies in the two markets helps students discover how to apply supply and demand analysis in this context. The introduction of speculators,...