Gas Station Pricing Game: A Lesson in Engineering Economics and Business Strategies

Authors

  • Aaron Sin Cornell University
  • Alfred M. Center Cornell University

Abstract

One of the more difficult concepts to teach in engineering economics is the determination of price and marketing tactics.  We have developed a gas station game that provides practical experience to students in this respect. We found that within ten iterations of this game, students start to understand the mechanism of price determination and market economy.

Author Biographies

Aaron Sin, Cornell University

Aaron Sin received his B. ChE. in 1998 from the University of Delaware, where he was trained to become a practical engineer. At Cornell, he used this knowledge to design microfluidic devices for pharmaceutical testing with his research advisor. Aaron is completing his Ph.D. thesis and considering a career in academia.

Alfred M. Center, Cornell University

Alfred Center is a registered professional engineer with over thirty years of experience in the petroleum industry. He is now a senior lecturer in chemical engineering at Cornell, teaching classes in unit operations laboratory, senior design, project management process control, and business development strategies.

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Published

2002-09-01

Issue

Vol. 36 No. 4 (2002): Fall 2002

Section

Manuscripts