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Fall 2006

ISSN 0890-913X

Volume 22, Number 1

Categories: Education | Fall 2006

Stock Markets and Slot Machines

Wilson Mixon, Berry College

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JournalofPtivateEntetprire,VolumeXXII,Number1,Fall2006StockMarketsandSlotMachines*WilsonMixonBerryCollegeOccasionally,anunexpecteddeparturefromlessonplanscouplewithstudentinputtoallowthedevelopmentofinsightsthatwerenopartofaninstructor'sexpectationsfortheday.Theyresultfromactionandnotdesign,toborrowaphrase.Sometimessuchanopportunityallowstheinstructorandthestudentstoexploreafundamentallyimportantissueinawaythatensuresthatatleastsomeofthestudentshave"gotit"inawaythatwouldnothaveresultedfromevenawell-preparedandskillfully-deliveredlectureonthatmaterial.Thatis,sometimes,wearegiventeachablemoments.OnesuchopportunityaffordeditselftomerecentlymylaboreconomicsclassandIwereengaginginabitofbanterregardingmyupcomingtriptoLasVegastoattendtheannualAssociationofPrivateEnterpriseEducationmeeting.Thestudentsofferedeffusivelyinsincerecondolencesonmyhavingsuchanonerousduty;Iacceptedthecondolencesappropriatelywithsomereferenceto"theleisureofthetheoryclass."AtthispointIdigressedfromtheplannedlecturetoofferasmalllessoninprobability.Iofferedtheclassoftenstudentsthisopportunity:Iwouldtakewithmeanymoneytheywishedtocollect,andIwouldshareanywinnings(orlosses)withthem.Nooneacceptedmyoffertoserveastheiragent.Sinceonestudenthadrecentlybeenparticularlyintriguedbyprincipal-agentissuesinlaboreconomics,I*Ithanktwoanonymousrefereesforvaluablecomments.IalsothankJohnHoftyzerfortheinitialinsightregardingtheimplicationsofplayingslotmachinesandroulettewheels.WilsonMixon177

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Metadata [hide]

Title	Stock Markets and Slot Machines
Authors/Creators:	Wilson Mixon, Berry College
Year:	2006
Volume:	22
Number:	1
Pages:	177 - 179
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Educational Notes
Keywords:	Economic education, Stock exchange

Citation:
Mixon, Wilson / 2006. "Stock Markets and Slot Machines." The Journal of Private Enterprise, 22(1): 177-179.