A simple in-class experiment on the efficient production of the pure public good touching the median voter theorem
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F12%3A00060650" target="_blank" >RIV/00216224:14560/12:00060650 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
A simple in-class experiment on the efficient production of the pure public good touching the median voter theorem
Original language description
The paper show possibilities of introducing modern methods into public economy and finance teaching. We present in-class experiment which illustrates one of typical model from political economy - the median voter theorem. Students are endowed with cardsthat represent their preferences on different levels of the public good production. They compare benefit they can get from different levels of public good (these levels represent three candidates) and then they vote for the most preferred level. This process continues for several rounds, with a new election taking place with a different sample of students. The in-class experiment demonstrates that the simplicity of the median voter theorem, when there are more than two candidates, provides only an imprecise prediction of the collective choice. The methodology of the experiment is enriched by the statistical analysis of experimental results from experiment cartied out by the authors in Czech Republic and Slovakia.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Acta universitatis agriculturae et silviculturae Mendelianae Brunensis
ISSN
1211-8516
e-ISSN
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Volume of the periodical
60
Issue of the periodical within the volume
4
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
8
Pages from-to
319-326
UT code for WoS article
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EID of the result in the Scopus database
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