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Virtual Stock Markets as a Research Tool in Marketing and Management

Virtual Stock Markets as a Research Tool in Marketing and Management
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Author(s): Lorenz Zimmermann (Ludwig-Maximilians-University Munich, Germany)
Copyright: 2010
Pages: 7
Source title: Encyclopedia of E-Business Development and Management in the Global Economy
Source Author(s)/Editor(s): In Lee (Western Illinois University, USA)
DOI: 10.4018/978-1-61520-611-7.ch046

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Abstract

Virtual Stock Markets (VSM) are a young, powerful and still evolving research tool. VSM were developed around 20 years ago as forecasting instrument of election outcomes, having delivered very precise results ever since. In recent years, various business applications of the given concept have been presented, namely forecast generation, decision support, product concept evaluation and the identification of lead users. This article explains the basic concept of VSM, describes the potential areas of application and shows examples of successful implementations in business practice. Directions for further research are identified.

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