Hi Everyone,
The Final Buying and Selling Game Contest in the Series
This series has been consistently running since May 2020. In May 2021, the business version of the game was added to the series. The original version and the business version have been alternated monthly ever since. The popularity of the contests has approximately doubled over the past two years. It has been a struggle to attract new participants and I am grateful to all the people who have consistently entered. Now, I feel that it is time to end this series and start afresh with a new series. I will launch this series in January 2023. I will provide an update regarding the new series next month. In December, I will run a one-off contest for Christmas.
Welcome to the ‘Buying and Selling’ Game.
How to play?
The ‘Buying and Selling’ Game involves three simple steps.
- Choose one or more of six goods to buy.
- Choose the city, town, island or planet where you will be buying these goods.
- Choose the city, town, island or planet where you will be selling these goods.
All the information you need to know to play the game is provided in the question; i.e. no external research is required as all prices are hypothetical and locations are fictitious.
All entries must be made in the comments section of this post.
Each account is only permitted one entry.
Objectives of the game
The objective of the game is to make the highest profit from the sale of all the goods you have bought. If two participants make the exact same profit, the participant who entered first wins.
If nobody makes a profit (i.e. all participants make a loss), the prize of 30 Hive will be rolled over to the Christmas Contest.
Game assumptions
All goods of the same type are identical; for example, Good A bought on Planet X is the same as Good A bought on Planet Y.
There are zero transaction and transport costs.
All cities, towns, islands and planets use the same currency.
What information is provided?
- All the cities, towns, islands and planets are provided.
- All the goods that can be bought in the game are provided.
- All the buying prices of the goods are provided.
- None of the selling prices of the goods are provided. Instead, a possible range of prices is provided. This range is represented by maximum, minimum, and mode prices (i.e. most frequently occurring price). See diagram below.
Selling Price Distribution
Note: Triangular Distribution
How are the results of the game determined?
A Microsoft Excel Model is used to determine the selling prices of each good in each city, town, island, or planet. These prices will be used to calculate the profits made by each participant. In the results post, the calculation of the selling price will be presented in a video. Below is the results post for Contest 31 (most recently posted version of this contest).
Contest Prizes
The account with the winning entry will receive 30 Hive and the first 12 entries will be given upvotes. The most profitable buying and selling price combination is also calculated. If the winner adopts this strategy, he or she will receive an additional 10 Hive.
Let the contest begin
For Contest 33, we will be travelling out into space where trade will take place between planets. The goods that we will be buying and selling are donuts (donuts were the first good that were traded in the first business version of the Buying and Selling Game).
For this contest, participants have been allocated $2,000 to buy 1 or more of a particular donut from any of the 5 planets. These planets are as follows:
- Churros
- Malasadas
- Bear Claw
- Beignet
- Paczki
See map below:
Map of Planets
All 6 types of donuts are available on all 5 planets. The available donuts are as follows:
- Glazed Donuts
- Powdered Donuts
- Jam filled Donuts
- Cream filled Donuts
- Sugar Donuts
- Cronuts
Table 1 contains the prices of each type of donut for each planet.
Table 1: Prices of donuts for each planet
Note: donuts can only be bought as whole pieces. For example, a participant could only buy 1785 glazed donuts from Bear Claw, as there is insufficient money to buy the 1786th glazed donut.
After buying the donuts, the participant must then sell all the donuts he or she has bought on just one of the planets named in the question. Remember, the selling prices are revealed in the results post. These prices are determined using the information provided in Tables 2, 3, and 4.
Table 2: Minimum, maximum, and mode (Churros & Malasadas)
Table 3: Minimum, maximum, and mode (Bear Claw & Beignet)
Table 4: Minimum, maximum, and mode (Paczki)
Entry format
For this contest, I expect to see entries made in the following format:
Buying
Name of Place:
Goods purchased:
Number purchased:
Amount spent on goods:
Selling
Name of Place:
Example of entry
Buying
Name of Place: Beignet
Goods purchased: Cronuts
Number purchased: 1,081
Amount spent on goods: $1,999.90
Selling
Name of Place: Malasadas
The closing date and time for this contest is 6PM coordinated universal time (UTC) 16/11/2022. Responses after this time will not be accepted. The answers will be provided in the results post along with the video containing the generation of selling prices using the model.
I hope everyone has fun and enjoys the final contest in this series.
More information
If you want to know more about the ‘Buying and Selling’ Game, I suggest that you watch the following video:
If you have any questions, feel free to ask in the comments section.
More posts
If you want to read any of my other posts, you can click on the links below. These links will lead you to posts containing my collection of works. These 'Collection of Works' posts have been updated to contain links to the Hive versions of my posts.
Hive: Future of Social Media
Spectrumecons on the Hive blockchain
