About: A simple in-class experiment on the efficient production of the pure public good touching the median voter theorem

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
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 cards that 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. 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 cards that 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. (en)
Title	A simple in-class experiment on the efficient production of the pure public good touching the median voter theorem A simple in-class experiment on the efficient production of the pure public good touching the median voter theorem (en)
skos:prefLabel	A simple in-class experiment on the efficient production of the pure public good touching the median voter theorem A simple in-class experiment on the efficient production of the pure public good touching the median voter theorem (en)
skos:notation	RIV/00216224:14560/12:00060650!RIV13-MSM-14560___
http://linked.open...avai/predkladatel	Ekonomicko-správní fakulta
http://linked.open...avai/riv/aktivita	S
http://linked.open...avai/riv/aktivity	S
http://linked.open...iv/cisloPeriodika	4
http://linked.open...vai/riv/dodaniDat	2013
http://linked.open...aciTvurceVysledku	Špalek, Jiří Raguseo, Domenico
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Masarykova univerzita / Ekonomicko-správní fakulta
http://linked.open...dnocenehoVysledku	120607
http://linked.open...ai/riv/idVysledku	RIV/00216224:14560/12:00060650
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	Efficiency; Experiment; Free rider; Game; Median voter; Public choice; Public good (en)
http://linked.open.../riv/klicoveSlovo	Efficiency Game Experiment Free rider Median voter Public choice Public good
http://linked.open...odStatuVydavatele	CZ - Česká republika
http://linked.open...ontrolniKodProRIV	[9743701BF66E]
http://linked.open...i/riv/nazevZdroje	Acta universitatis agriculturae et silviculturae Mendelianae Brunensis
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	2 (xsd:int)
http://linked.open...cetTvurcuVysledku	3 (xsd:int)
http://linked.open...UplatneniVysledku	2012
http://linked.open...v/svazekPeriodika	60
http://linked.open...iv/tvurceVysledku	Špalek, Jiří Klus, Martin Raguseo, Domenico
issn	1211-8516
number of pages	8 (xsd:int)
http://localhost/t...ganizacniJednotka	14560
is http://linked.open...avai/riv/vysledek of	A simple in-class experiment on the efficient production of the pure public good touching the median voter theorem

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