The AIM Game: Learning Investment Management Principles through Monte Carlo Simulation

Robert R. Trippi
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Robert R. Trippi: IR/PS Graduate School, University of California, San Diego, La Jolla, California 92093-0519

Interfaces, 1996, vol. 26, issue 3, 66-76

Abstract: In surveys, computer simulation nearly always tops lists of the most frequently used OR/MS methods, largely because of its great versatility. For example, where nonlinearities or path dependence exists, Monte Carlo simulation is the only practical means available for evaluating financial derivatives and asset allocation or switching policies. Teaching business students the theory and use of Monte Carlo simulation in evaluating investment policies is challenging, especially at the undergraduate level. I developed a management game that requires team effort and provides students with experience in unsupervised research design and hands-on use of state-of-the-art simulation software to analyze an interesting problem in investment management.

Keywords: professional: OR/MS philosophy; finance: investment (search for similar items in EconPapers)
Date: 1996
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