Abstract
At the School of Management, University of Haifa (http://gsb.haifa.ac.il),
novel Internet-based tools are employed in order to enrich the instruction of
theoretical aspects with hands-on experience, and expose the students to
these unique tools. One example is the incorporation of Information Markets
in several MBA courses. Information Markets use the financial markets
mechanism as an information aggregation and processing engine. In this case
the underlying asset is a statement to be evaluated or an event to be
forecasted. The price that results from trading the contracts reflects the
market opinion as to the event's probability to occur or the statement to be
correct.
In class, Information Markets theory teaching is complemented with a handson experience of trading in preconceived markets. Two types of markets are
implemented in order to expose the students to the versatility of the tool:
prediction market and information aggregation markets. We found that the
hands-on activity is essential to enhance the understanding of this complex
topic, and added interest and excitement to the lessons. Furthermore, we
found that by surfacing opinions and attitudes of the students, this activity
can assist in improving instruction processes and in-class dialogue. The
development of an effective teaching environment required a large
investment in time, but the monetary costs were relatively low.
novel Internet-based tools are employed in order to enrich the instruction of
theoretical aspects with hands-on experience, and expose the students to
these unique tools. One example is the incorporation of Information Markets
in several MBA courses. Information Markets use the financial markets
mechanism as an information aggregation and processing engine. In this case
the underlying asset is a statement to be evaluated or an event to be
forecasted. The price that results from trading the contracts reflects the
market opinion as to the event's probability to occur or the statement to be
correct.
In class, Information Markets theory teaching is complemented with a handson experience of trading in preconceived markets. Two types of markets are
implemented in order to expose the students to the versatility of the tool:
prediction market and information aggregation markets. We found that the
hands-on activity is essential to enhance the understanding of this complex
topic, and added interest and excitement to the lessons. Furthermore, we
found that by surfacing opinions and attitudes of the students, this activity
can assist in improving instruction processes and in-class dialogue. The
development of an effective teaching environment required a large
investment in time, but the monetary costs were relatively low.
Original language | English |
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Title of host publication | Chais Conference for Research in Learning Technologies |
Place of Publication | Ra'anana |
Publisher | רעננה : האוניברסיטה הפתוחה |
Pages | 153-158 |
State | Published - 2009 |