Sorry, you need to enable JavaScript to visit this website.
Bio: 
Steven Gold is a professor of economics in the Saunders College of Business at the Rochester Institute of Technology. His administrative experience includes serving as the department chair of finance, accounting and MIS; and as the faculty director of the college's management development program. At the institute level he served as the vice-president of the faculty senate at RIT. The focus of his research has been in the field of business simulations and gaming; and most currently in financial markets and trading. He has published in numerous referred journal articles  in these areas. He is the author of 4 computerized business and economic simulation games with publishers including MacMillan, Random House, and McGraw-Hill. His most recent simulation game is called Beat the Market which is an interactive game used for teaching and learning economics (www.goldsimulatons.com). He is a fellow and past-president of the national Association of Business Simulations and Experiential Learning (ABSEL). A bibliometric co-citation study cited Steven Gold as one of the most "influential" authors in simulation research with this association. He has received three best research paper awards, and in 2008 was recognized as one of the outstanding reviewers in the simulation research track. Steven Gold has presented his research abroad at the International Simulation and Gaming Association in Weimar, Germany; as a lecturer at Scheffield Polytechnic Institute in England; and in Prague, Czech Republic. For many years, he was an associate editor of Simulation & Gaming: An International Journal of Theory, Design, and Research; and is currently one of the reviewers. He received his B.A. in economics and B.S. in industrial engineering at Rutgers University in New Brunswick; and his M.A. and Ph.D. degrees in economics from the State University of New York in Binghamton.
Education: 
  • Ph.D. in Economics from SUNY Binghamton, 1979
  • M.A. in Economics from State University of New York at Binghamton, 1977
  • B.S. in Industrial Engineering from Rutgers - New Brunswick, 1972
  • B.A. in Economics from Rutgers - New Brunswick, 1972
Experience: 
  • Assistant, Associate, and Full Professor | Rochester Institute of Technolgy | 1980-Present
  • Acting Chair of Department | Accounting and Finance | 2005-2007
  • Chair of Department | Finance, Accounting, and MIS | 1999-2002
  • Assistant Professor | State University of New York at Geneseo | 1977-1980
  • Industrial Engineer | Bausch & Lomb | 1972-1973
Expertise: 
  • Computer modeling
  • Economics
  • Financial markets
  • Managerial economics
  • Micro economics
  • Simulation
  • Visual Basic
Memberships: 
  • Western Economics Association
  • Southern Economics Association
  • New York State Economics Association
  • Eastern Economics Associaiton
  • Association of Business Simulations and Experiential Learning
  • American Economics Association
Awards: 
  • Outstanding Reviewer - Simulation Track, Association of Business Simulations and Experiential Learning-2008-2009
  • Research Sabbatical - faculty development leave, RIT-2003-2004
  • CFP national award for best published research paper, Certified Financial Analysts-2000-2001
  • Best Research Conference Paper, National Association of Business Simulations and Experiential Learning-1998-1999
Books: 
  • Gold, S., (2007). Beat the Market Online: An Interactive Microeconomics Game. Gold Simulations LLC.
  • Gold, S., (2004). Beat The Market: An Interactive Microeconomic Game. Gold Simulations LLC.
Chapters: 
  • Gold, S., (2007). Beat the Market Online: An Interactive Microeconomics Game.
  • Gold, S., (2004). Beat The Market: An Interactive Microeconomic Game.
Journals: 
  • Gold, S., (2019). Integrating Volatility and Trend Conditions in the Design of an Effective Stock Market Algorithmic Trading System. Journal of Applied Financial Research. 1. 17-33.
  • Gold, S., (2018). Stock Market Algorithmic Trading: A Test of Bollinger Bands incorporating the Squeeze Effect and MACD Conditions. Journal of Applied Financial Research. 1. 13-28.
  • Gold, S.,& Wolfe, J. (2017). Predicting Business College Retention and Persistence: Game-Based Behavioral indicators. Academy of Business Journal. 7-24.
  • Gold, S., (2015). The Viability of Six Popular Technical Analysis Trading Rules in Determining Effective Buy and Sell Signals: MACD, AROON, RSI, SO, OBV, AND ADL. Journal of Applied Financial Research. 8-29.
  • Boehner, R.,& Gold, S. (2014). An Evaluation of the Causes, Extent, and Initiators of Herding Behavior. Journal of Applied Financial Research.
  • Wolfe, J.,Biggs, W.,& Gold, S. (2013). A replication and expansion of Teach and Patel's discovery of early-determined endgame finishes. Simulation & Gaming. 44. 493-513.
  • Boehner, R.,& Gold, S. (2013). Herding Behavior in the DJIA 2005-2009: An Application of the Bass Model. Journal of Applied Financial Research. 2. 51-67.
  • Gold, S., (2013). Economics Online Simulation Game: Beat The Market for Perfect Competition, Monopoly, Monopolisitc Competition & Oligopoly. Multimedia Educational Resources for Learning and Online Teaching.
  • Gold, S., (2012). The Impact of Trading Volume on Next Day Stock Returns in the DJIA 2007-2009. Journal of Applied Financial Research. 1. 28-36.
  • Gold, S.,& Wolfe, J. (2012). The Validity and Effectivness of a Business Game Beta Test. Simulation & Gaming. 43. 481-505.
  • Boehner, R.,& Gold, S. (2012). The Influence of the Marketing Mix on the Diffusion of Innovation: Bass Model Redux. Academy of Business Journal. 42-68.
  • Gold, S.,& Gold, H. (2010). Beat the Market: An Interactive Microeconomics Simulation. Journal of Economics Education. 41.
  • Gold, S.,Faria, A.,Hutchinson, D.,& Wellington, W. (2009). Developments in Business: A Review of the Past 40 Years. Simulation & Gaming. 40. 464-487.
  • Gold, S.,& Wolfe, J. (2007). A Study of Business Game Stock Price Algorithms. Simulation & Gaming. 38. 153-167.
  • Gold, S., (2005). System-Dynamics-Based Modeling of Business Simulation Algorithms. International Journal of Simulation and Gaming. 36. 203-218.
  • Gold, S., (2004). Price-Volume Relationships and Stock Returns. Journal of Accounting and Finance Research. 12. 85-94.
  • Gold, S.,& Pray, T. (2001). Historical Review of Algorithm Development For Computerized Business Simulations. Simulation & Gaming. 30. 264-282..
  • Gold, S.,& Lebowitz, P. (1999). Computerized Stock Screening Rules for Portfolio Selection. Financial Services Review. 8. 61-70.
  • Gold, S.,& Pray, T. (1999). Changing Customer Preferences and Product Characteristics in the Design of Demand Functions. Simulation & Gaming.
Presentations: 
  • Gold, S., (2018). Importance of Incorporating Volatility and Trend Conditions in the Design of an Effective Stock Market Trading System. Academy of Business Research.
  • Gold, S., (2017). A Walk-ForwardTest of Bollinger Bands incorporating the Squeeze Effect and MACD. Academy of Business Research.
  • Gold, S., (2015). The Viability of Six Highly Popular Elemental Technical Trading Rules in Determining Effective Buy and Sell Signals. Academy of Business Research.
  • Gold, S., (2015). A Pilot Study Enhancing and Assessing Topic-Specific Student Learning Using an Economic Simulations. ABSEL, Association of Business Simlations and Experiential Learning.
  • Gold, S., (2014). Growth and Impact of Algorithmic Trading. Academy of Business Research.
  • Gold, S.,Markulis, P.,& Strang, D. (2014). ABSEL Research - A Perspective on the Quality of the Research Presented in the Proceedings. ABSEL, Association of Business Simlations and Experiential Learning.
  • Gold, S.,& Boehner, R. (2013). Key Market Financials of the DOW Companies Ranked by Herding Effect for the Years 2007 to 2011. Academy of Business Research.
  • Strang, D.,Markulis, P.,& Gold, S. (2013). Follow the Leader II. ABSEL, Association of Business Simlations and Experiential Learning.
  • Gold, S.,& Boehner, R. (2012). Modeling the Impact of the Marketing Mix on the Diffusion of Innovation in the Generalized Bass Model of Firm Demand. ABSEL, Association of Business Simlations and Experiential Learning.
  • Critelli, M.,Schwartz, D.,& Gold, S. (2012). Serious Social Games: Designing a Business Simulation Game. IEEE International Games Innovation Conference.
  • Gold, S.,& Boehner, R. (2012). Herding Behavior in the DJIA 2005-2009: An Application of the Bass Model. Academy of Business Research.
  • Gold, S., (2011). The Impact of Trading Volume on Next Day Stock Returns in the DJIA. Academy of Business Research.
  • Gold, S.,& Strang, D. (2011). Demand Equation Redux: The Design and Functionality of the Gold-Pray Model in Computerized Business Simulations. ABSEL, Association of Business Simlations and Experiential Learning.
  • Gold, S., (2009). Beat the Market. Association of Business Simulations and Experiential Learning.
  • Gold, S., (2008). Design of an Online Managerial Economics Game. Association of Business Simulations and Experiential Learning.
  • Gold, S.,Goosen, K.,& Wolfe, J. (2007). Alternative Ways of Using the Internet for Business Simulations to Input Decisions, Process and Present Financial and Economic Data. Association of Business Simulatons and Experiential Learning.
  • Gold, S., (2006). The Use of an Interactive Simulation Game to Teach Microeconomics. American Economics Association.
  • Gold, S., (2005). The Design and Use of a Microeconomics Simulation: A Pilot Study. Southern Economics Association.
  • Gold, S., (2005). Simulating the Four Market Structures: Perfect Competition, Monopoly, Oligopoly, and Monopolistic Competition. Association of Business Simulations and Experiential Learning.
  • Gold, S., (2005). Demonstration of a Microeconomics Games as a Learning and Assessment Tool. Western Economics Association.
  • Gold, S.,& Wolfe, J. (2004). A Study of Business Game Price Algorithms. Association of Business Simulations and Experiential Learning.
  • Gold, S., (2004). Beat-the-Market: An Interactive Microeconomics Game. Teaching Economics Conference, California State University and McGraw-Hill.
  • Gold, S., (2003). Price-Volume Relationships and Stock Returns. American Academy of Accounting and Finance.
  • Gold, S., (2003). The Design of Business Simulations Using a Systems Dynamic Based Approach. Association of Business Simulations and Experiential Learning.
  • Gold, S., (2001). E-Learning: The Next Wave of Experiential Learning. ABSEL, Association of Business Simlations and Experiential Learning.
Proceedings: 
  • Gold, S., (2015). Design and Effectiveness of a Self-Study Pedagogical Approach to using a Simulation in the Classroom. ABSEL, Association of Business Simlations and Experiential Learning. 43.
  • Gold, S., (2015). A Pilot Study Enhancing and Assessing Topic-Specific Student Learning Using an Economic Simulations. ABSEL, Association of Business Simlations and Experiential Learning.
  • Gold, S., (2015). WITH SIMULATIONS, IT IS NOT THE WAND BUT THE MAGIC IN THE MAGICIAN: A PILOT STUDY ENHANCING AND ASSESSING TOPIC-SPECIFIC STUDENT LEARNING USING AN ECONOMIC SIMULATION. ABSEL, Association of Business Simlations and Experiential Learning. 42. 69-75.
  • Gold, S.,Markulis, P.,& Strang, D. (2014). ABSEL Research -- A Perspective on the Quality of the Research Presented in the Proceedings. ABSEL, Association of Business Simlations and Experiential Learning. 41. 15-29.
  • Gold, S., (2013). Follow the Leader II. ABSEL, Association of Business Simlations and Experiential Learning.
  • Critelli, M.,Schwartz, D.,& Gold, S. (2012). Serious Social Games: Designing a Business Simulation Game. IEEE International Games Innovation Conference.
  • Gold, S.,& Boehner, R. (2012). Modeling the Impact of the Marketing Mix on the Diffusion of Innovation in the Generalized Bass Model of Firm Demand. ABSEL, Association of Business Simlations and Experiential Learning. 39. 75-91.
  • Gold, S.,Strang, D.,& Markulis, P. (2011). Demand Equation Redux: The Design and Functionality of the Gold-Pray Model in Computerized Business Simulations. ABSEL, Association of Business Simlations and Experiential Learning. 38. 28-35.
  • Wolfe, J.,& Gold, S. (2010). Examining a Beta Test. ABSEL, Association of Business Simlations and Experiential Learning. 37. 129-140.
  • Gold, S., (2008). Design and Demonstration of an Online Managerial Economics Game with automated Coaching for Learning and Graded Exercises for Assessment. Developments in Business Simulations and Experiential Learning. 35. 336-339.
  • Gold, S.,& Snarr, H. (2006). The Design and Use of a Macroeconomics Simulation Using Maple Software: A Pilot Study. Developments in Business Simulation and Experiential Learning , Vol. 33, (2006): pp. 253-262.. 33.
  • Gold, S.,& Wolfe, J. (2004). A Study of Business Game Stock Price Algorithms. Developments in Business Simulations and Experiential Learning. 31. 190-196.
  • Gold, S., (2003). The Design of Business Simulations Using A System-Dynamics Based Approach. Developments in Business Simulations & Experiential Exercises. 30.
Software: 
  • 2012: StoreWorld.
Working Paper: 
  • 2014: Boehner, R.,& Gold, S.An Evaluation of the Causes, Extent, and Initiators of Herding Behavior in the Financial Markets.
  • 2013: Boehner, R.,& Gold, S.Who Initiates Investment Herding: An Evaluation of the Causes and Extent of Herding Behavior of DOW Firms.
  • 2013: Gold, S.,& Boehner, R.Key Market Financials for the DOW companies ranked by Herding Effect for the years 2007, 2009 and 2011.

Steven Gold

Professor
Economics
Finance & Accounting
585-475-2318
LOW-A315
Office Hours: 

Tuesday and Thursday 11:00am to 12:30pm

And by Appointment