() and Ingolf Ståhl
Jan Edman: Department of Business, Postal: Penn State Worthington Scranton, 120 Ridge View Drive, Dunmore , PA 18512, USA
Ingolf Ståhl: Dept. of Business Administration, Stockholm School of Economics, Postal: P.O. Box 6501, SE-113 83 Stockholm, Sweden
Abstract: We describe in detail a business game, which has been used extensively in education for a decade. Although the business game is smaller than other games, it is fairly realistic as it includes decisions on investments, production, prices, and advertising. Furthermore, the game has dynamic properties, in that decisions and financial states of the firms carry over from one period to the next. There are not many such detailed descriptions of business games, although this is in demand. Such a complete mathematical description lays ground not only for alterations of the game, but also for developments of new games. It can also provide a link to models used in micro-economic theory.
21 pages, June 4, 2002
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