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:

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 @lavanyalakshman. @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 @lavanyalakshman

Our next participant is @toyinbaruba. @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 @toyinbaruba.

This post can be accessed using the following link.

Entrant 2 @toyinbaruba

Our next participant is @doughtaker. @doughtaker just like @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. @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 @doughtaker

Our next participant is @diya28. @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. @diya28 proposes this option as a low risk option.

This post can be accessed using the following link.

Entrant 4 @diya28

Our fifth participant is @wiresless07. @wireless07 like @toyinbaruba and @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. @wireless07 supported his decision using some interesting tables.

This post can be accessed using the following link.

Entrant 5 @wiresless07

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

This post can be accessed using the following link.

Entrant 6 @deewhy07

Our final participant is @knowledge-seeker. @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. @knowledge-seeker also presented the worst case scenario from the decision.

This post can be accessed using the following link.

Entrant 6 @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.