An Exploration of the Behaviour of Resale Markets through Computer Simulation

Article Abstract:

A considerable proportion of marketing transaction activities in North America (and a considerably higher proportion in the other continents) takes place in secondary or resale markets. (Examples of these are the real estate markets, the used car markets, etc.) In spite of this, a survey of the published literature indicates that only limited academic attention has been paid to the behavior of these markets. The research project described in this paper is a heuristic study of random imperfect markets utilizing computer simulation; the research design consists of 35 separate but correlated experiments. The objective of the research is to investigate to what extent (if any) the average transaction prices and total transaction volumes are affected by various degrees of price-information and-or bargaining strength on the one hand, and the shape of supply and demand schedules on the other. Tentative conclusions are drawn based on the experimental results for these relationships, and readers are invited to pursue this investigation further (either analytically or heuristically) in order to develop a body of knowledge and understanding for the behavior of these imperfect markets. (Reprinted by Permission of Publisher.)

Marketing, Market research, Market Analysis, Models, Simulation, Marketing Research, Market Value

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Powerful Business Forecasting Software

Article Abstract:

MACRO*TRACK, from Black River Software, a menu-driven, user-friendly business forecasting software package, can generate forecasts for most parts of the economy. It gives the likely turning points for a business and the next quarter and the next year's probable levels. A photograph of the software is shown.

Business, Evaluation, Product/Service Evaluation, Forecasting, New Product, Software Packages, MACRO TRACK

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