scieee Science in your language
[In] (orig)

Spanish Real Estate Bubble: A Classroom Experiment

Abstract

[EN] The European Higher Education Area (EHEA) requires development of teaching methodologies that encourage active participation by students in the autonomous learning process, taking the figure of the professor as the mediator. On the other hand, the economy is a fundamental aspect in today’s society insofar that it contributes to explaining the behaviour of individuals. In this sense, the experimental economy applied in lecture rooms is presented as an innovative educational procedure that is perfectly adapted to university teaching, since it facilitates acquisition and consolidation of curricular knowledge and favours the development of capabilities by students, whilst at the same time improving the quality of teaching and has a positive impact on the interest students have in the subject. This paper describes the application of an economic experiment as an active learning method to prove the mechanisms used to set prices. The experience took place at the ESIC Business and Marketing School Valencia university centre, within the subject of “Spanish Economy” in Official Business Management and Administration degrees and in Marketing and Sales Management degrees. The starting point for this experience was the work by Radim Boháček (2002), adding changes aimed at empirically explaining inflation, the real estate bubble and subsequent economic crisis in Spain. The obtained results prove that this educational experience favours learning of the economic concepts students study, and stimulates proactive interest in the subject. From the obtained results a second experiment is proposed in order to consolidate concepts concerning price setting mechanisms in the presence of intervention by the Public Sector (taxes and subsidies) or establishing incentives that model collusive behaviour leading to situations where market offers are concentrated in oligopolies.

Read accessible full text

Spanish Real Estate Bubble: A Classroom Experiment

Author: Castello-Sirvent, Fernando
Publisher: Universitat Politècnica de València
Year: 2016
DOI: 10.4995/muse.2016.6377
Source: https://riunet.upv.es/bitstream/10251/76940/1/6377-22245-1-PB.pdf
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 185
Spanish Real Es a e Bubble: A Class oom Expe imen
Fe nando Cas ello-Si en
[email p o ec ed]
ESIC, Business and Ma ke ing School - EINTLab Resea ch
A da. Blasco Ibáñez, 55, 46021 Valencia, Spain.
Recei ed: 2016-01-14; Accep ed: 2016-06-22
Abs ac
The Eu opean Highe Educa ion A ea (EHEA) equi es de elopmen o eaching
me hodologies ha encou age ac i e pa icipa ion by s uden s in he au onomous lea ning
p ocess, aking he igu e o he p o esso as he media o . On he o he hand, he economy
is a undamen al aspec in oday’s socie y inso a ha i con ibu es o explaining he
beha iou o indi iduals. In his sense, he expe imen al economy applied in lec u e ooms
is p esen ed as an inno a i e educa ional p ocedu e ha is pe ec ly adap ed o uni e si y
eaching, since i acili a es acquisi ion and consolida ion o cu icula knowledge and
a ou s he de elopmen o capabili ies by s uden s, whils a he same ime imp o ing he
quali y o eaching and has a posi i e impac on he in e es s uden s ha e in he subjec .
This pape desc ibes he applica ion o an economic expe imen as an ac i e lea ning
me hod o p o e he mechanisms used o se p ices. The expe ience ook place a he ESIC
Business and Ma ke ing School Valencia uni e si y cen e, wi hin he subjec o “Spanish
Economy” in O icial Business Managemen and Adminis a ion deg ees and in Ma ke ing
and Sales Managemen deg ees. The s a ing poin o his expe ience was he wo k by
Radim Boháček (2002), adding changes aimed a empi ically explaining in la ion, he eal
es a e bubble and subsequen economic c isis in Spain. The ob ained esul s p o e ha his
educa ional expe ience a ou s lea ning o he economic concep s s uden s s udy, and
s imula es p oac i e in e es in he subjec . F om he ob ained esul s a second expe imen
is p oposed in o de o consolida e concep s conce ning p ice se ing mechanisms in he
p esence o in e en ion by he Public Sec o ( axes and subsidies) o es ablishing
incen i es ha model collusi e beha iou leading o si ua ions whe e ma ke o e s a e
concen a ed in oligopolies.
Keywo ds
EHEA, au onomous lea ning, Spanish economy, expe imen al economy, p icing, eal es a e bubble
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 186
1. In oduc ion
The implemen a ion o he Eu opean Highe Educa ion A ea (EHEA) has ans o med how
knowledge is ansmi ed. In ac , one o he main goals o he EHEA is o imp o e he
quali y o uni e si y eaching by ocusing i s a en ion on he adop ion o compe encies
among s uden s (Cano, 2008).
The inco po a ion o he new uni e si y sys em is an a emp o es ablish a dynamic, ac i e
and lexible aining s a egy o ensu e s uden s a e able o ca y ou au onomous lea ning
(Whi ehead, 2008). In his way, i is possible o de elop he skillse s demanded on he
cu en changing, compe i i e and complex employmen ma ke (Hun , Eagle and Ki chen,
2004).
Fo his eason, uni e si ies mus d i e inno a i e expe iences in eaching-lea ning
p ocesses in o de o combine consis en ly he gene ic, o e a ching and speci ic skills ha
acili a e p o essional guidance o enable g adua es o en e he wo king a ena success ully
(Roge e al., 2016).
A his poin , i is app op ia e o highligh ha he skill acquisi ion p ocess is mo e
success ul i i akes place h ough eamwo k ins ead o eso ing o he adi ional
ansmission o knowledge (Exley and Dennick, 2007). In his sense, he EHEA encou ages
me hodologies d i ing he de elopmen o compe encies in which co-ope a ion and
eamwo k cons i u e undamen al me hod o eaching and lea ning, as he lea ning so
acqui ed is conside ed o be deepe and longe las ing (Gil e al., 2006).
The con en ional me hodology based on he ans e o knowledge mus p ecisely be
eplaced by a p ojec con empla ing he acquisi ion o skills and ap i udes based on sel -
lea ning (Ma ín e al., 2014). In o he wo ds, s uden s mus become he p o agonis s o
hei own lea ning. To do so, i is o i al impo ance o conduc p ac ical sessions and
deba es in he class oom o enable s uden s o de elop an in e en ion a bo h pe sonal and
eam le el ma e ialized in he gaining o he skills needed o app oach hei p o essional
ca ee success ully (De Juan, González, Pa a, Kan he and Sa abia, 2008).
The p esen a icle explains he di e en s ages ca ied ou o d aw up a p ojec o
educa ional inno a ion based on he de elopmen o an economic expe imen wi hin he
class oom. The expe imen is es ablished on he basis o ha p oposed by Boháček (2002)
by in oducing a se ies o di e en al e a ions enabling he p ocess and he ou comes o
app oach a la ge pa o he conclusions d awn om he heo e ical co pus o he subjec
wi hin which his inno a ion p ojec is housed.
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 187
Thus, co-ope a i e lea ning is seen in his expe imen as a e y in e es ing op ion o
o ganize he eaching p ocesses and he acquisi ion o skillse s. None heless, i is impo an
o poin ou ha i is no enough o b ing a se ies o s uden s oge he o ensu e co-ope a i e
e o . The success o eamwo k lies in unde s anding how people lea n, p ocess and use
he in o ma ion p o ided o hem (Es ada e al., 2014).
The goal o his expe imen in ol ed acili a ing au onomous lea ning by s uden s in he
con ex o he cu iculum o he subjec o “Spanish Economy” as pa o i s in eg a ion
in o he syllabus o he deg ees in Business Managemen and Sales & Ma ke ing a ESIC
Business and Ma ke ing School. These o icial quali ica ions a e awa ded h ough he
Miguel He nández Uni e si y in Elche.
The inno a ion p ojec a emp ed o make mo e accessible a subjec amed wi hin he
domain o applied economics and habi ually dis an and inaccessible o second-yea
s uden s. This economic expe imen in ol ed 36 s uden s, o whom 8 we e E asmus
exchange s uden s om a Ge man uni e si y.
S a ing om he design o he pedagogical expe ience, conside a ion was gi en o
achie ing highe le els o de elopmen among s uden s in he subjec ’s gene al and
speci ic skills, making i possible o he lea ning ou comes es ablished by he uni e si y
o a ise in a comp ehensi e and mo e sa is ac o y manne o s uden s.
2. Desc ip ion o he eaching inno a ion p ojec
The goal o he inno a ion p ojec was o achie e he a icula ion o a p ac ical lea ning
me hod whe eby s uden s could e i y, in addi ion, he alidi y o pa o he economic
heo y s udied in he subjec .
In pa icula , one impo an goal in ol ed analysing p ice o ma ion and, in he speci ic
case o he Spanish p ope y ma ke , assessing he ole o egula o s in he design o
incen i es. I was also undamen al o pa icipan s in he expe imen o be able o make i
angibly appa en how he a ious supply-side es ic ions (land egula ions) and, on he
demand side on he o he hand, he e ec s caused by he mone a y policies on low in e es
a es applied by he Eu opean Cen al Bank (ECB) ha ul ima ely con ibu ed o he
gene a ion o ou eal es a e bubble.
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 188
Thus, he elemen s in ol ed in he o ma ion o ela i e p ices, i.e. why one i em should
be wo h mo e han ano he , a e c ucial o s uden s o be able o unde s and no only he
p ocess o in la ion in he Spanish p ope y sec o bu also, on a wide scale, any dis o ion
in ma ke equilib ium.
S a ing om he pape published by Radim Boháček (2002) and he a ian s p oposed by
Rey-Biel (2015), an economic expe imen was designed a ound he exchange o a ious
legumes (beans and chickpeas) ha was subjec ed o h ee majo condi ions:
a) Con ingency: The amoun o incen i e ecei ed by each pa icipan mus depend a
leas on he decision aken by he subjec in ol ed.
b) Dominance: Changes in he subjec ’s sa is ac ion wi h espec o he expe imen
had o be due, undamen ally, o changes in he amoun s o incen i e ecei ed.
c) Mono onici y: A highe incen i e paymen had always o be p e e ed by s uden s
o a smalle paymen , and subjec s mus no become sa ia ed.
The sequen ial design o he s uc u e o he expe imen p oposed is p esen ed below.
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 189
Table 1. S uc u e o he economic expe imen
PHASE 1
A) NORMATIVE STAGE
- Sha e-ou o he ini ial p o ision o beans and
chickpeas, and o he pape eco ds o all
pa icipan s
- Explana ion o he me hodology (in oduc ion)
How o ca y ou exchanges, how o eco d he
imeline anno a ions on he pape eco d
p o ided, he agen making he exchange and
he exchange a e
B) RANDOM CONTROL STAGE (Du a ion:
5’)
C) EXCHANGE STAGE (Du a ion: 15’)
- F ee exchange be ween any pai o agen s wi h
moni o ing o he imeline and anno a ions
p oposed wi h espec o he me hodology
PHASE 2
A) NORMATIVE STAGE
- Mone a y injec ion o mo e chickpeas o lea e
he o al p opo ion on he ma ke a 1/6
- Explana ion o he me hodology (winne ’s
ules)
B) RANDOM CONTROL STAGE (Du a ion:
5’)
C) EXCHANGE STAGE (Du a ion: 15’)
- F ee exchange be ween any pai o agen s wi h
moni o ing o he imeline and anno a ions
p oposed wi h espec o he me hodology
PHASE 3
A) NORMATIVE STAGE
- Explana ion o he me hodology ( a ia ion)
B) RANDOM CONTROL STAGE (Du a ion:
5’)
C) EXCHANGE STAGE (Du a ion: 15’)
- F ee exchange be ween any pai o agen s wi h
moni o ing o he imeline and anno a ions
p oposed wi h espec o he me hodology
Sou ce: Own p oduc ion

Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 190
In PHASE 1A, i was es ablished ha each indi idual could ake an ini ial p o ision o ed
beans and o dina y chickpeas p e-es ablished in di e en sacks dis ibu ed a andom and
con ained in a box.
This ini ial p o ision p esen ed, o he class as a whole ( he ma ke ), an une en p opo ion
o 1/3, in which 3 chickpeas we e p esen ed o each bean.
In his way, some economic agen s (s uden s) migh ind hemsel es wi h a p opo ion o
2/1 in hei ini ial p o ision; o he s wi h a p opo ion o 5/1; and o he s wi h a p opo ion
o 1/6. The o al amoun s o legumes con ained in each bag we e he same o all s uden s,
bu no he p opo ion be ween beans and chickpeas. Dis ibu ion in he class oom was a
andom.
In o de o esol e he con ingency condi ion, h ee Exchange S ages (1C, 2C, 3C) we e
designed wi h he aim o allowing s uden s o pe o m unlimi ed ee exchanges wi h hei
classma es. The momen a which he ma ke was decla ed exhaus ed was when i was no
longe possible o engage in any u he ansac ion as all pa icipan s we e sa is ied wi h
he amoun s exchanged and, in consequence, wi h he combina ion o beans and chickpeas
e ained.
In o de o esol e he dominance condi ion, h ee No ma i e S ages (1A, 2A, 3A) we e
designed o he pu pose o p o iding a sequenced explana ion o he me hodology and he
ules go e ning he expe imen so as o u nish pa icipan s wi h ools and c i e ia o enable
hem o inc ease hei own u ili y. In PHASES 1A and 2A, he in o ma ion p esen ed was
delibe a ely incomple e in o de o igge a design ha would cons ain he beha iou o
indi iduals.
In o de o esol e he mono onici y condi ion, a inal incen i e was de e mined o he
‘mos compe i i e’ economic agen . This consis ed in a 50-eu o gi ouche om a well-
known depa men s o e. Al hough all he pa icipan s knew abou he inal incen i e, hey
we e g adually in o med h ough PHASES 1A, 2A and 3A abou he speci ic ules ha
would enable hem o be ‘mo e compe i i e’.
Simila ly, and in iew o he possibili y o aud being pe pe a ed by pa icipan s, h ee
Random Con ol S ages (1B, 2B, 3B) we e designed. In each o he con ol s ages, he
lec u e inspec ed he da a shee s and he balances (beans and chickpeas) o h ee s uden s,
chosen a andom, and hei mos ecen coun e pa ies, i.e. he las h ee s uden s wi h
whom ag eemen had been eached o a ansac ion wi h he s uden being inspec ed. In
his way, a o al o 9 s uden s we e inspec ed a andom (25% o he class) along wi h hei
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 191
inal coun e pa ies o each immedia ely p eceding exchange phase, so he possibili y o
a check a ec ed p ac ically 50% o he ma ke .
This inspec ion and con ol condi ion is simila he unc ion pe o med by he Public
Excheque acing ax aud in a eal ma ke . The goal in ou case, as o he Tax O ice,
in ol ed inhibi ing oppo unis ic beha iou leading o he exploi a ion o he egula o y
c acks in he game, hus p e en ing he gene a ion o dis o ions and ex e nali ies.
In he e en o aud being de ec ed, he penal y mean ha bo h he s uden unde
inspec ion and he coun e pa y would lose hei s ock o legumes and would cease o
pa icipa e in he game, hus making i impossible o hem o win he inal p ize. I should
be indica ed ha any inaccu acy in he amoun no ed be ween a pai o economic agen s o
any misma ch in hese amoun s, o in hei s ock o legumes wi h espec o he balance
no ed a he momen o he inspec ion, would imply he expulsion o bo h pa icipan s om
he game. I mus be emembe ed ha S uden A in he las exchange o a phase wi h
S uden B should ha e no ed down he same amoun s as S uden B bu in he e e se o de ,
and bo h should coincide in hei ally o he eal balances o beans and chickpeas, o
bo h A and B.
We mus s ess ha he e we e no mis akes in he allies kep and we can he e o e in e he
high le el o a en ion gi en by pa icipan s du ing he expe imen , as any ca elessness
would ha e implied a se e e penal y.
The design o he expe imen also mi iga ed he impac ha migh ha e been caused by he
economic agen s becoming sa ed h ough i edness o bo edom in iew o he epe i i e
mechanics o he game and his was possible h ough a lexible, unc ional design wi h a
o al du a ion o less han 75 minu es.
Du ing PHASE 2A, he lec u e , ac ing as a Cen al Bank, looded he ma ke wi h
chickpeas by aising he mone a y supply o chickpeas o c ea e, on agg ega e and
analysing he ma ke as a whole, a disp opo ion o 1/6 (beans/chickpeas). The sha e-ou
was ai and p opo ional, wi h each s uden ecei ing he same numbe o chickpeas.
Due o he in insic cha ac e is ics o his design, a s uden who had in e ed an equilib ium
p ice o 1/3 p io o he mone a y injec ion passed o an in e ed p ice o 1/6.
Du ing PHASE 2A, he lec u e explained he winne would no be he pa icipan who, as
mos o he s uden s had guessed, had he la ges numbe o beans and chickpeas (added
oge he ), bu a he ha he ou come would be decided by mul iplying he numbe o beans
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 192
by he numbe o chickpeas. Thus, pa icipan s we e able o in e ha hey should seek
exchanges enabling hem o achie e a ce ain equilib ium be ween beans and chickpeas
because, i a playe managed o accumula e a lo o beans bu ew chickpeas, o example
6x2 = 12, and ano he achie ed a deg ee o balance be ween beans and chickpeas, o
example 4x4 = 16, hen he second one would bea he i s .
Du ing PHASE 3A, he lec u e in oduced a u he modi ica ion. By hen all he
pa icipan s we e awa e o he disp opo ion ha exis ed be ween he di e en legumes;
hey we e no able o speci y i in nume ical e ms bu hey we e able o gauge i .
A he end o PHASE 3C, he pai o pa icipan s in ol ed in a las exchange ha had been
eco ded as he inal exchange ep esen ing he highes ela i e p ices would ob ain om
he Cen al Bank an addi ional 50 beans and 50 chickpeas each, which would be added o
hei s ock a ha momen and he game would hen come o an end and he inal ally
would be d awn up (mul iplica ion o beans and chickpeas o all he pa icipan s) o
de e mine he winne .
3. Me hodology
A s opwa ch was p ojec ed in he class oom o gi e an accu a e e e ence o he ime in
minu es and seconds, p og ammed in h ee blocks o 15 minu es each, o p o ide he
imeline du ing he exchanges in PHASES 1C, 2C and 3C o inclusion on he con ol
shee s dis ibu ed oge he wi h he ini ial p o ision o legumes.
Each pa icipan had o eco d he ollowing in o ma ion on his o he da a shee o each
exchange:
a) The PHASE in which i ook place (1C, 2C, 3C)
b) The exac momen i ook place (minu e and second)
c) The playe wi h whom he exchange was made
1
d) The swap a io (numbe o beans and he numbe o chickpeas exchanged
2
)
1
The pa icipan s we e assigned numbe s om 1 o 36 and no ed he speci ic code assigned o hei
espec i e coun e pa ies in hei di e en ades.
2
The swap a ios admi ed any p opo ional ac ion in he o m 2/5; 6/7; 9/4; ep esen ing 2 beans
o 5 chickpeas, 6 beans o 7 chickpeas o 9 beans o 4 chickpeas.
In his way, he exchange a e o a bean can be calcula ed by di iding he denomina o by he
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 193
e) The balance a he end o he ade (how many beans and how many chickpeas)
Bea ing in mind he ma ke ’s dimensions (36 pa icipan s ading wi h each o he , all
s anding up) mean ha i was di icul o playe s, and cos ly in compa a i e e ms, o
ca y ou a comple e, o e a ching co-o dina ion o all he membe s on he ma ke because,
i hey had ied o, hey would ha e missed he chance o make mo e and be e exchanges.
A he end o PHASES 1C, 2C and 3C, he lec u e asked he pa icipan s o shou ou he
a ios o he las ades hey had made on he ma ke . In o he wo ds, he exchange a es o
supply and demand in he las ope a ions be ween pai s o s uden s. This ga e ise o a ios
a ying be ween 1/1 o he exchange o one bean o one chickpea and 1/8 o he
exchange o one bean o 8 chickpeas.
As hese exchange a es we e sha ed aloud, pa icipan s could become awa e o he
in la iona y p ocess ha was being c ea ed on he ma ke , e en hough his would no ha e
been appa en o hem un il ha momen due o he bias caused by he asymme y in he
in o ma ion.
4. Ou comes
A he end o PHASE 1C, i was possible o see ha in la ion exceeded eal sca ci y on he
ma ke . While he p opo ion in he ini ial p o ision was 1/3, by he end o PHASE 1C, he
closing p ices be ween supply and demand we e 1/3, 1/6 and 1/8.
This indica es he exis ence o ola ili y due o he ac ha , in a non-o ganized ma ke ,
in o ma ion asymme y mean ha no all he pa icipan s we e awa e o he las p ice
aded and, in consequence, hey we e igno an o he ‘bes con ac ual posi ion’ ha would
allow hem o buy chickpeas o sell beans, and ice e sa.
nume a o . In he p eceding examples, he p ice o a bean would espec i ely be 2.5, 1.17 and 0.44
chickpeas.
Analogously, he p ice o a chickpea can be calcula ed by di iding he nume a o by he
denomina o in he swap a io indica ed abo e. Using he same examples, he p ice o a chickpea
would espec i ely be: 0.4, 0.86 and 2.5 beans.
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 200
In e ms o he analysis o he ou comes om he ques ionnai e posed o he s uden s
ollowing his inno a ion p ojec , he esul s sugges a e y posi i e assessmen o his kind
o expe imen in he class oom.
T aining ac ions o his ype a e highly app ecia ed by s uden s as hey enable hem,
h ough p ac ice ( aci knowledge), o app oach a e lexi e i e a ion o he cu iculum’s
heo e ical co pus (exp ess knowledge) and inally c ys allize in a deepe le el o
unde s anding o he mechanisms gi ing ise o his lea ning p ocess based on expe ience
(Nonaka and Takeuchi, 1995).
The abula ion o he quali a i e ou comes p esen ed in he las sec ion o he ques ionnai e
which allowed pa icipan s o exp ess hemsel es eely and openly showed g ea
consis ency among a la ge numbe o s uden s ega ding hei assessmen o he
conce a ion and collusion s a egy h oughou PHASE 3C.
Wi h all he cau ions inhe en o a quali a i e me hodology (Gu ié ez B i o, J., 2009), we
mus di ide he e alua ions gi en by he pa icipan s hemsel es wi h espec o hei
espec i e oligopolis ic s a egies in o wo main schools o hough .
On he one hand, s uden s who deemed hei beha iou ep ehensible, e en hough hey
had engaged in i ; and, on he o he , s uden s who openly e alua ed i as hones and
de ensible.
Wi h espec o he mo i a ions o he i s g oup, as he i ually unanimous jus i ica ion
o hei beha iou , hey alleged hey we e aking ad an age o a oid in he sys em, in he
design o he game, and he non-exis ence ule p ohibi ing such collusi e beha iou .
The second g oup, on he o he hand, a gued in a ou o he exploi a ion o ma ke
syne gies, and he compe i i e ad an age ep esen ed by he size and olume o
ansac ions ac ing a ound a cen al ope a o o g oup o economic agen s.
While he i s alleged a ulne abili y in he game design, he second g oup ound a
compe i i e oppo uni y. Cu iously, all he E asmus s uden s we e among he second g oup.
Quali a i e obse a ions o his ype led us o p opose he u u e design o new economic
expe imen s inspi ed by he expe imen explained in his pape . In his case, expe imen s
o e ing g ea e ele ance o he Public Sec o , wi h he in oduc ion o subsidies and axes,
wi h he aim o p o iling e icien mechanisms on highly egula ed ma ke s wi h ba ie s
o access on he supply side, such as he elec ici y ma ke (S a opoli and Jullien, 2006).

Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 201
Simila ly, in he assessmen ques ionnai es used in he class oom o he esul o he
eaching inno a ion ac i i y, we p opose he u u e quan i a i e abula ion o a gumen s in
a ou and agains he oligopolis ic beha iou disco e ed by he pa icipan s in he cou se o
he expe imen , and an inc ease in sample so as o allow he pe o mance o disc imina ing
quan i a i e analyses in he ligh o social and demog aphic pa ame e s such as gende ,
o iginal quali ica ion o na ionali y o he s uden .
Re e ences
Bohacek, R. (2002). A Ma ke -Clea ing Class oom Expe imen . Sou he n Economic
Jou nal, 69(1), 189. DOI: h p://doi.o g/10.2307/1061564
Cano, Mª E. (2008). La e aluación po compe encias en la educación supe io .
P o eso ado. Re is a de cu iculum y o mación de p o eso ado, 2008, ol. 12, nº 3, p. 1-
16.
De Juan, M. D., González, E., Pa a, J. F., Kan he , A. y Sa abia, F. J. (2008) An eceden es
del ap endizaje au o egulado del es udian es uni e si a io de ma ke ing Ac as del XX
Encuen o de P o eso es Uni e si a io de Ma ke ing, 17- 19 de sep iemb e de 2008, G an
Cana ias (España).
Es ada ,M., Mon e e , D., Sega a, M. y Moline , M. Á. (2014). El abajo coope a i o en
base al modelo del ce eb o o al: una expe iencia docen e. REDMARKA UIMA-
Uni e sidad de A Co uña – CIECID, nº. 12, pp. 87-112.
Exley, K. y Dennick, R. (2007). Enseñanza en pequeños g upos en educación supe io :
u o ías, semina ios y o os ag upamien os. Na cea Ediciones.
Ga cía-Gallego, A.; Geo gan zís, N. y Kujal, P. (2008): «Expe imen al insigh s in o he
e iciency o al e na i e wa e ma- nagemen ins i u ions», en Dina , A.; Albiac, J. y
Sánchez-So iano J. (eds.), Game Theo y and Policymaking in Na u al Resou ces and he
En i onmen , ed., 209-235, Rou ledge, Taylo & F ancis G oup, London/New Yo k.
Gil, C.; Alías, A. y Mon oya, M.D.G. (2006). Cómo mezcla di e en es me odologías
docen es pa a mo i a e impulsa a un mayo núme o de alumnos, VI Jo nadas de
Ap endizaje Coope a i o, Ba celona.
Mul idisciplina y Jou nal o Educa ion, h p://dx.doi.o g/10.4995/muse.2016.6377
Social and Technological Sciences EISSN: 2341-2593
Cas elló-Si en (2016)
h p://polipape s.up .es/index.php/MUSE/ Mul . J. Edu. Soc & Tec. Sci. Vol. 3 Nº 2 (2016): 185-202 | 202
Gu ié ez B i o, J. (2009). In oducción a la lógica del análisis del discu so. In oducción a
las écnicas de in es igación, 245-260.
Hun , L., Eagle, L., y Tchen, P. (2004). Balancing ma ke ing educa ion y in o ma ion
echnology: ma ching needs o needing a be e ma ch? Jou nal o Ma ke ing Educa ion,
26, 75-88. h p://dx.doi.o g/10.1177/0273475303262350
Ma ín, A.; León, C. y Ga cía, A. (2014). Inno ación docen e pa a la in eg ación de
au o o mación y au oe aluación en la pla a o ma web. Pixel-Bi : Re is a de medios y
educación, nº. 44, p. 201-214. h p://dx.doi.o g/10.12795/pixelbi .2014.i44.14
Nonaka, I., & Takeuchi, H. (1995). The knowledge-c ea ing company: How Japanese
companies c ea e he dynamics o inno a ion. Ox o d uni e si y p ess.
Rey-Biel, P. (2015). ¿Funcionan los me cados? Dos expe imen os que mues an sus
en ajas...y limi aciones, Pos i NadaEsG a is.es
h p://nadaesg a is.es/ped o- ey-biel/expe imen os-en-clase Accessed 13 Oc obe 2015.
Roge -Monzó, V.; Guija o-Ga cía, M.; Ma í-Sánchez, M. (2015). Digi al Signage: An
Expe ience o Inno a ion in Highe Educa ion. Mul idisciplina y Jou nal o Educa ion,
Social and Technological Sciences, . 2, n. 2, p. 1-13.
DOI: h p://dx.doi.o g/10.4995/muse.2015.3769
S a opoli, C. y Jullien, C. (2006): «Using labo a o y expe i- men s o design e icien
ma ke ins i u ions: The case o wholesa- le elec ici y ma ke s». Annals o Public and
Coope a i e Econo - mics, ol. 77, nº 4, pp. 555-577 h p://dx.doi.o g/10.1111/j.1467-
8292.2006.00319.x
Tadelis, S., & Williamson, O. E. (2012). T ansac ion cos economics. A ailable a SSRN
2020176 h p://dx.doi.o g/10.2139/ss n.2020176
Whi ehead, D. P. (2008). Though s on Educa ion y Inno a ion, Childhood Educa ion,
85(2), 106-118.