White and Wooten (2022) present a class project and online simulator to teach marginal revenue product. The project is based on techniques similar to those used in the iconic movie Moneyball. White and Wooten (2022) describe how to implement the project and online resources are available on the following website: https://www.moneyballsimulator.info/marginal-revenue-product.

 

For this exercise, students learn how to estimate marginal revenue product by using data they previously collected from secondary sources. The authors mention that students do not need familiarity with econometrics and baseball. All calculations are done using an Excel spreadsheet. 

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