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Business game (also called business simulation game) refers to simulation games that are used as an educational tool for teaching business. Business games may be carried out for various business training such as: general management, finance, organizational behavior, human resources, etc. Often, the term "business simulation" is used with the ...
Business simulation or corporate simulation is simulation used for business training, education or analysis. It can be scenario -based or numeric -based. Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, decision making, problem solving, financial analysis, market ...
e. Business simulation games, [1] [2] also known as economic simulation games [3] [4] or tycoon games, are games that focus on the management of economic processes, [5] usually in the form of a business. Pure business simulations have been described as construction and management simulations without a construction element, [2] and can thus be ...
Through a simulation game, students may participate directly in a market by managing a simulated firm and making decisions on price and production to maximize profits. An excellent review of the use of a successful market simulation is given by Motahar (1994) in the Journal of Economics Education. [8]
Educational entertainment. Educational entertainment, also referred to by the portmanteau edutainment, [1] is media designed to educate through entertainment. The term was used as early as 1954 by Walt Disney. Most often it includes content intended to teach but has incidental entertainment value.
The gamification of learning is an educational approach that seeks to motivate students by using video game design and game elements in learning environments. [1] [2] The goal is to maximize enjoyment and engagement by capturing the interest of learners and inspiring them to continue learning. [3] Gamification, broadly defined, is the process ...
t. e. Game theory is the study of mathematical models of strategic interactions among rational agents. [1] It has applications in many fields of social science, used extensively in economics as well as in logic, systems science and computer science. [2] Initially game theory addressed two-person zero-sum games, in which a participant's gains or ...
In game theory, a signaling game is a simple type of a dynamic Bayesian game. [1] The essence of a signalling game is that one player takes an action, the signal, to convey information to another player, where sending the signal is more costly if they are conveying false information. A manufacturer, for example, might provide a warranty for its ...
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