Models

Spectrum develops a variety of Excel-based economic models. Models developed so far include:

  • Triangle Distribution Model
  • Detailed Road Project Models
  • Rapid Road Project Models
  • Non-Infrastructure Models
  • Multi-modal Economic Models
  • Toll Analysis Models
  • Optimal Timing Models
  • Sensitivity Analysis Models
  • Crash Analysis Models
  • Externality Analysis Models

Spectrum Economics also builds game models. Currently Spectrum Economics has two Excel-based Game Models. These two games are called 'Life Choices' and 'Buying and Selling' Game.

Life Choices 

I developed the game 'Life Choices' in 2017. 

Life Choices is a game that applies economic concepts to decision-making. Unlike many other games, the objective of Life Choices is not to make the most money but to instead maximise happiness. Managing money is still an important part of the game as a negative dollar value will wipe out your happiness score. The key concepts applied to the game are utility, risk, and choice.

The maximisation of happiness requires the understanding of utility. What decisions should be made to maximise utility? The game gives the player the option to buy goods and services, each good and service provides a level of utility. The player must decide if the utility yielded from the good or service is sufficient for the cost requirement; remember if you spend too much and become in debt, you will lose all your happiness.

Risk plays an enormous part in this game. There is the risk of negative dollars and losing all utility. There are risk cards. This allows the player to bet on activities such as sports events or just rolling the dice. There are cards of random events, which may cost money now but can be rewarded later with awarding of karma points. Rolling the dice even offers choices that involve selection the type of card; the game has ‘buy’ cards, ‘gamble’ cards, ‘random’ cards ‘karma’ cards, ‘special’ cards, and ‘lottery’ cards; These cards are explained in the instructions section below. Should the player select a ‘random’ card and rely on chance or choose a ‘buy’ card, where the player can opt out of buying anything.

The whole game is about choices. There are numerous strategies a player can adopt to victory, high or low risk. The player can even select the personality of their character in the set-up page. Do you want to play the altruist, the materialist or even the joker; it’s your choice.

Game Models

Buying and Selling Game

The ‘Buying and Selling Game’ model has been designed to be incorporated into a series of contest that I am currently running on Steemit. The model generates prices using a triangle distribution. All the user require are the minimum, maximum and mode prices to randomly generate a price from that triangle distribution. These prices are then used to determine a winner.

What is this contest all about?

Participants will be required to buy good/s with an allocated amount of money. Participants will normally have a choice of six goods and these six goods will be available in any of the five towns or cities in the game. The purchasing of goods will be on what I am calling Day 1.

The participants will then be required to sell all of their goods on Day 7 (this aligns with the 7 Day period for entering the contest). The participants can choose any of the five towns to sell their goods. The participant that has the most money after selling all of their goods is the winner.

Responses to the contest will be made in the comments section of the post. If several participants end up with the same amount of money, the person who entered (commented) first will win. The format of the required entry will be explained in detail in the contest itself.