In 2003, as part of MGMT 301 - Management Theory & Practice, we (the teaching team) wanted to have an experiential exercise for the students based on 'virtuality'.
It was decided the classic 'Dollar Auction' exercise would be moved into the virtual world. And so, I wrote a small web application that would allow the 'Dollar Auction' to take place in real-time and on-line. Subsequently, we used the exercise with a class of about 80 students. The experience was quiet different to the face-to-face version, and provided rich experiences that we were able to successfully debrief.
Since then, we have also used the exercise as part of a short course in Virutality.