How Knowledge Stock Exchanges can increase student success in Massive Open Online Courses.

Abstract

Massive Open Online Courses (MOOCs) allow lecturers to overcome spatiotemporal boundaries and reach large numbers of participants. However, the completion rates of MOOCs are relatively low, a critical obstacle to their ultimate success. Existing literature suggests that strengthening student interaction has the potential to increase student commitment. The goal of this study is to develop a novel, market-based knowledge-sharing method that fosters student engagement and interaction in MOOCs, addressing the problem of low completion rates and demonstrating how MOOC engagement can lead to greater student success. The proposed method, "Knowledge Stock Exchange" (KSX), is derived from the concept of crowd-based intelligence mechanisms for incentive-compatible information aggregation. Using a popular MOOC as the focus of our empirical study, we show that the KSX method increases student interaction as well as MOOC completion rates. Moreover, we find that KSX participation has a significant positive effect on participants' exam grades.