MarketTools: An educational commodity marketing game
Agricultural commodity market participants make decisions in a risky and changing environment. Few agricultural producers use the diverse marketing alternatives available to them. Many are unfamiliar with the mechanics of the alternatives and methods for incorporating them into marketing strategies. This article describes MarketTools, an educational software package designed to support real-time, competitive marketing games. MarketTools simplifies record keeping and provides the basis for a structured approach to marketing education. The concluding section summarizes experience in using MarketTools in adult education and classroom settings. © 1995 by John Wiley & Sons, Inc.
Industry note: Market simulation for teaching commodity trading skills
A Grain Market Simulator provided private traders in the Russian grain industry with an opportunity to develop marketing strategies and skills. Players were assigned a role as farmer, country elevator, merchandiser, or miller with appropriate inventories, costs, and capacities. Players were challenged with frequent changes in market information, requiring new strategies for risk management and profit maximization. Lecture|discussion periods were keyed to problems encountered by the market participants as trading became increasingly complex. The record of daily transactions provided information on which to base refinements in the computer program and rules of the game. © 1996 John Wiley & Sons, Inc.
CAUSES OF FLUCTUATIONS IN R&D EXPENDITURES A QUANTITATIVE ANALYSIS
Introduction 124 The stylised facts of R&D in OECD economies 124 The determinants of business R&D expenditures 127 Modelling R&D expenditures 130 Conclusion 135 Bibliography 137 Annex: The model 138