Teaching Auction Theory Using Simulations: Some Empirical Evidence
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November 3, 2025Many instructors find it challenging to teach auction theory in a traditional way due to the highly technical and abstract nature of the topic. Therefore, this paper shows a new approach where the fundamentals are presented to students using Monte-Carlo simulations. Several basic theorems of auction theory are introduced via simulations to help students understand the inner workings of the models. Moreover, many possible exercises are proposed so that students may reinforce their understanding of the material. Data is presented to show evidence of the efficacy of simulations versus a more traditional approach.
by Mariano Runco
Runco, M. (2025). Teaching Auction Theory Using Simulations: Some Empirical Evidence. Available online at Journal of Economics Teaching, DOI: 10.58311/jeconteach/0a03e70e4d4e8ee83d69a242e79b87e6e176abc8
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