摘要：In this classroom experiment students represent firms that make investment
decisions.They play a repeated game with each firm privately choosing its level of
investment. Participating in the experiment helps students understand theories
that posit coordination failure as the cause of economic fluctuations. Students see
that when firms expect a recession, their resulting low levels of investment actually
cause a recession. Likewise, when firms expect an expansion, their resulting high
levels of investment cause an expansion.The experiment can be used in
undergraduate principles or intermediate macroeconomics classes of 8¨C60
students. It does not require computers and takes approximately 50 minutes to run
and discuss.
