Oh, Great. More Bulls in Politics.

In one of their wearier metaphors, commentators often talk of a politician's stock rising or falling during a campaign; at the Iowa City campus of the University of Iowa, politicians' stocks are actually rising and falling. Four faculty members -- three economists and a political scientist -- have opened a computer-driven stock market in which the only two issues available are Democratic Senator Tom Harkin and his Republican challenger Tom Tauke. (Because the university draws students from neighboring Illinois, shares in Paul Simon and his G.O.P. opponent Lynn Martin will soon be available.) Investors can buy a bundled issue, a minimum...

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