Modeling Market Demand in a Demand-Independent Business Simulation

Since Goosen (1981: 41) expressed his concern that relatively little had been written that provided &dquo;enough information to help the novice designer develop business simulations in an efficient manner,&dquo; several papers have been presented discussing mathematical functions for modeling market demand. Pray and Gold (1982) have shown that the demand functions for some published simulations are unstable, and Gold and Pray (1983, 1984) have proposed a set of equations that