Demand Equation Redux: the Design and Functionality of the Gold/Pray Model in Computerized Business Simulations
AbstractThis paper is a response to a paper entitled “Is the Gold/Pray Simulation Model Valid and Is It Really Robust?" which was presented at the 2010 ABSEL conference by Kenneth Goosen. The Goosen paper called into question the validity and robustness of the Gold/Pray demand model. This paper is written as a response to the arguments advanced by Goosen. Goosen (2010) has raised five problems with the Gold/Pray (1983) model. The paper will proceed by listing and then replying to each of these alleged problems. One of the purposes of the paper is to encourage simulation developers, especially total enterprise simulation developers, to explain and discuss their underlying demand equations and how these equations have worked over the life of their simulation usage.
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