Pit Market Trading
We are going to set up a financial market in which there are buyers and sellers (e.g. bond traders). The information that you need to make trades is contained on a playing card that I will pass out shortly. Face cards have been removed from the decks so that all remaining cards have a number. The buyer's cards are black (clubs or spades), and the seller's cards are red (hearts or diamonds). Each card represents one financial asset (i.e., a bond) that can be bought by buyers or sold by sellers. There will be several trading periods.
Source: Holt, Charles A., "Trading in a Pit Market," Journal of Economic Perspectives, 10(1), 193-203, 1996.