Double Auction Competitive Market Game | MobLab
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Competitive Market (Continuous Double Auction)

Buyers and sellers trade goods based on their values and costs using a continuous double-auction format.

Key Learning Objectives:

  • Market Equilibrium: Without external guidance, the competitive market finds the price equating quantity supplied with quantity demanded.
  • Market Efficiency: Self-interested Buyers and Sellers in a competitive market for a private good (without externalities) find the efficient (i.e. surplus maximizing) allocation of that good.
  • Market Adjustment: After a shift in supply (or demand), the competitive market finds the new price equating supply and demand, and thus, the new equilibrium quantity transacted.
  • Inefficient Market Interventions: A market intervention (binding price control, tax, or subsidy) alters the equilibrium price and quantity in a competitive market and will reduce surplus in a market for a private good without externalities.
  • Main Courses: microeconomics; macroeconomics; managerial economics; strategy

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