Spotlight: Economics Department Graduation Ceremony!
Edward J. Lopez
President, Association of Private Enterprise Education (APEE)
Associate Professor Ed Lopez has been on the San Jose State faculty since 2005. He is also Past President of the Association of Private Enterprise Education, Co-Editor of the Journalof Economics and Finance Education and North American Editor of the Journal of Entrepreneurship & Public Policy. He teaches principles of micro and macro as well as upper level and graduate courses. His new book The Pursuitof Justice: LawandEconomicsofLegalInstitutions was published this year by Palgrave Macmillan. Professor L—pez has also published over three dozen scholarly articles and book chapters in the areas of takings, campaign finance, entrepreneurship, congressional voting, and political institutions, in journals such as the Review of Law & Economics,Public Choice, Southern Economic Journal, The Independent Review, and others. For more about Professor Lopez, please visit his web page here.
San Jose State Students and Faculty Help Conduct Real Estate Auction
pictured: Joe Scannura, Matt Holian, Neil Nguyen, Charles Plott,
Prerna Anand, and Justin Reitz (not pictured: Richard Tam)
On December 15, 2010, San Jose State students Prerna Anand, Neil Nguyen, Justin Reitz, and Joe Scannura, along with faculty members Matt Holian and Richard Tam, helped to run a live auction designed by Charlie Plott, Cal Tech professor, and a leading figure in auction design and experimental economics. Fourteen Sunnyvale townhomes were sold to the highest bidder. “Auctions are unique environments for observing and demystifying the inner-workings of markets,” said Holian. “Éit was great for our students and faculty to have the opportunity to learn auction design first-hand from one of the field's brightest minds.”
Along with collecting and entering bids, the students also had the opportunity to learn about experimental control and other methodological considerations. After the auction, they analyzed the path the bids took over time; bidders in the multi-unit, simultaneous bid auction converged to equilibrium after about one hour.