Teaching Competitive Bidding Using a DSS Generator

Abstract

As Decision Support Systems (DSS) are gaining popularity (see [3, 7, 8]), the use of financial modeling languages in companies has grown rapidly. A recent survey [9] reported that 85% of the respondents were using some financial modeling language. These modeling languages, also termed ‘DSS generators” by Sprague [12], are supposed to make model building much easier for a manager. Their Englishlike programming language, interactive mode of operation and built-in financial routines facilitate problem solving. Some of the languages also allow for risk analysis through Monte Carlo simulation, “what if” interrogation, and goal-seeking capabilities. Brightman, Harris and Thompson 13] describe some of the 60 or so commercially available languages.