Industry note: Market simulation for teaching commodity trading skills

Lowell D. Hill and Karen L. Bender
Additional contact information
Lowell D. Hill: College of Agriculture, Department of Agricultural and Consumer Economics, University of Illinois, Urbana, IL 61801, Postal: College of Agriculture, Department of Agricultural and Consumer Economics, University of Illinois, Urbana, IL 61801
Karen L. Bender: College of Agriculture, Department of Agricultural and Consumer Economics, University of Illinois, Urbana, IL 61801, Postal: College of Agriculture, Department of Agricultural and Consumer Economics, University of Illinois, Urbana, IL 61801

Agribusiness, 1996, vol. 12, issue 4, 403-410

Abstract: 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.

Date: 1996
References: View references in EconPapers View complete reference list from CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:agribz:v:12:y:1996:i:4:p:403-410

DOI: 10.1002/(SICI)1520-6297(199607/08)12:4<403::AID-AGR10>3.0.CO;2-2

Access Statistics for this article

Agribusiness is currently edited by Ronald W. Cotterill

More articles in Agribusiness from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().