For a class of 45 we can have some interesting times with simulations. Today's indenture game wanted to show how the market can work its way to equilibrium. There was some interesting negotiations that I overheard. I think some of you discovered that it wasn't a level playing field - we all didn't start equal. Some people because of skills or negotiating skills, you were able to get a jump start. Compare that to the convicts - they were "winners" if they could at least get to the New World. If they stayed, they would be hung. Also, where you ended up tended to have an influence on "winning." Remember what I told you about ending up in the sugar cane plantations of the Caribbean.
You can see how the market prices clustered the more we played. We got close to what was the equilibrium in the early 1700s - 4 years and 8 mos.
Winners: Connor Birkholz won for the emigrants, and Jackson Quevedo - who managed to get a 12 year indenture contract - won for the captains / agents. I would like all the captains / agents and Connor to stop by 205 tomorrow morning and collect your donut!
Don't forget to do the debrief, readings, and think about the opportunity costs and benefits of your own choices. There might be a quick quiz over the reading and one-pager.
Have a great week!
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