Spectrum Economics Six Week Challenge 3 - Price Calculation

Hi Everyone,

With this video I will reveal the Day 7 prices using a random number generator that I built yesterday using Microsoft Excel. I have only calculated values for four commodities. These commodities are:

• Corn (Meteor City)
• Cocoa (Meteor City)
• Copper (Grudge Town)
• Oil (Grudge Town)

For Challenge 3 we have seven entries, the number of entrants are up which is a good sign. I would like to thank all seven for the attempts made for this contest:

• Hive account@lavanyalakshman
• Hive account@toyinbaruba
• Hive account@doughtaker
• Hive account@diya28
• Hive account@wireless07
• Hive account@deewhy07
• Hive account@knowledge-seeker

Quick recap of the challenge

For Challenge 3, participants were required to play a trading game that I invented. This game required participants to buy commodities from any of five hypothetical towns and then sell these commodities a week later at another town or city in attempt to make a profit. The participants were also required to explain how they made their selections and present the logic supporting those decisions.

Here is a link to the original Challenge 3 post

What have our participants proposed?

Let’s start with Hive account@lavanyalakshman. Hive account@lavanyalakshman proposes to use all $10 Million to buy copper from Meteor City at $2.5 per pound and sell at Grand Town at the calculated price. Unfortunately, there is not a Grand Town. I think you meant Grudge Town. As you were not clear in your entry, I am afraid I cannot calculate a profit for your entry.

This post can be accessed using the following link.

Entrant 1 Hive account@lavanyalakshman

Our next participant is Hive account@toyinbaruba. Hive account@toyinbaruba proposes to use all $10 Million to buy copper from Meteor City at $2.5 per pound and sell at Grudge Town at the calculated price. He also explained the logic and mathematics behind his choice, thank you Hive account@toyinbaruba.

This post can be accessed using the following link.

Entrant 2 Hive account@toyinbaruba

Our next participant is Hive account@doughtaker. Hive account@doughtaker just like Hive account@toyinbaruba also proposes to use all $10 Million to buy copper from Meteor City at $2.5 per pound and sell at Grudge Town at the calculated price. This strategy appears to be quite popular. Hive account@doughtaker also provided a very sound in-depth explanation as to how he choose his commodity and where to sell it.

This post can be accessed using the following link.

Entrant 3 Hive account@doughtaker

Our next participant is Hive account@diya28. Hive account@diya28 proposes to use all $10 Million to buy oil from Riddle Widdle Town at $64 per barrel and sell at Grudge Town at the calculated price. Hive account@diya28 proposes this option as a low risk option.

This post can be accessed using the following link.

Entrant 4 Hive account@diya28

Our fifth participant is Hive account@wiresless07. Hive account@wireless07 like Hive account@toyinbaruba and Hive account@doughtaker proposes to use all $10 Million to buy copper from Meteor City at $2.5 per pound and sell at Grudge Town at the calculated price. Hive account@wireless07 supported his decision using some interesting tables.

This post can be accessed using the following link.

Entrant 5 Hive account@wiresless07

Our sixth participant is Hive account@deewhy07. Hive account@deewhy07 proposes to buy 365.27 tons of cocoa and 2.7 Million Bushels of corn from Crunchy Town. Hive account@deewhy07 proposes to sell the corn and cocoa at Meteor City. I can see Hive account@deewhy07 knows something about diversifying to reduce risk.

This post can be accessed using the following link.

Entrant 6 Hive account@deewhy07

Our final participant is Hive account@knowledge-seeker. Hive account@knowledge-seeker similar to many of our other participants has decided to use all $10 Million to buy copper from Meteor City at $2.5 per pound and sell at Grudge Town at the calculated price. Hive account@knowledge-seeker also presented the worst case scenario from the decision.

This post can be accessed using the following link.

Entrant 6 Hive account@knowledge-seeker

In the event of a tie

As we have four participants with the same strategy, if that strategy produces the highest profit I will split the total of first prize (10 SBD) and second prize (5 SBD) equally amongst the four participants. Therefore, each winner will receive 4 SBD (includes 1 bonus SBD). If that strategy produces the second highest profit each of the four will be given 1.25 SBD each.

Results from Video

Watch the video, on Dtube, using the following link:

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Blooper Alert: Apologies for the spelling mistake on my 'Copper' button it read it 'Cooper'

Day 7 Prices

• Corn (Meteor City) Price = $5
• Cocoa (Meteor City) Price = $2803
• Copper (Grudge Town) Price = $4.7
• Oil (Grudge Town) Price = $82.1

I will calculate the results for each participant and will post the results in a few days.

Special Thanks

I would also like to give a special thanks to Hive account@sweetsssj for supporting Challenge 3 with her generous upvote.

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