Evidence-Based Decision Making Simulation

Commodity

COMMODITY is a real-time Trading Simulation where the Participants (playing in Teams) must buy and sell Commodities (or other Tradable Instruments) to achieve specific objectives in a dynamic market over multiple trading periods.

Screenshots

Core Simulation Skillsets

Team Operations

Operating an effective Team
Organising a Team for success
Resolve conflict
Decision making under pressure
Time management
Managing change with agility
Maximising contribution of the whole Team
Managing new information effectively
Continuous performance improvement

Evidence-Based Decision Making

Best practice team decision-making tools
Data Analysis / Filtering skills
Historical Analysis and Forecasting
Risk Identification, Assessment and Management
Taking a Portfolio approach to investment decisions
Using Behavioral Economics Techniques to avoid decision bias and blindness
Surfacing Hidden Assumptions

Key Functionality

The Simulation develops Evidence-Based Decision Making and Data Analysis skills with an emphasis on interpretation of Experiential Evidence.

Participants will find their Team Operations Skills tested to the nth degree - a combination of extreme time pressure and information overload will result in ‘paralysis by analysis’ if Teams do not delegate roles and practice a measured approach to Data Analysis.

COMMODITY aims to develop strong Commercial Awareness and Risk Management skills with each Team asked to determine their specific goals and their “Risk Appetite” before they start trading.

The Simulation is also great for team building events as it provides a great blend of competitive and collaborative activity.

Special Features

Can also be used to develop Collaboration across the Teams and Negotiation between Teams, for example, where each Team has some additional information which only they know.

The market volatility can be easily configured to make the Simulation more or less difficult.

The Simulation handles the cost of trading including the spread between buying and selling prices and commission costs.