Enhancing Learning with Simulation and Prediction Markets – Insights from Game-Based Learning Research

Shortly after the first video games were created educators began experimenting with harnessing them to support learning in classrooms. Early experiments involved incorporating off-the-shelf commercial games. These efforts... [ view full abstract ]

Shortly after the first video games were created educators began experimenting with harnessing them to support learning in classrooms. Early experiments involved incorporating off-the-shelf commercial games. These efforts expanded to include designing, developing, implementing and studying purposefully-developed games and simulations. Today, there are simulations and games to support many business disciplines. 

One type of digital game is a prediction market. These environments share many characteristics and functions of stock markets. They allow participants to buy and sell shares in contracts that mature based on the outcome of future events. Instead of purchasing contracts tied to a company’s performance, students make predictions around events tied to learning objects such as the outcome of a round of a business simulation. This presentation describes how recent meta-analysis of research related to digital games and simulations can support the application of prediction markets and other types of digital games and simulations in classroom settings.