Real Markets in Computerized Top-Management Gaming Simulations Designed for Assessment

Abstract

Objective scoring, comprehensiveness, flexibility, and ease of administration are characteristics of computerized top-management gaming simulations (CTMGS) that suit them for the assessment of management education. These characteristics may be substantially enhanced by the inclusion of real markets. Support for real markets can be supplied by microcomputer local-area networks (LAN) and LAN-cognizant software. Additional advantages of real markets include relief to problems of team forming, decision cycling, hand-holding, end gaming, assignment evaluating, and debriefing. Three gaming simulations that incorporate real markets have been used in undergraduate courses. A great variety is possible in CTMGSs with real markets. The scores of CTMGSs with real markets are valid to the extent the markets appropriately reward business competencies.