Spectrum Economics Challenge 1 – Results

Hi Everyone,

It has been a long time coming but it’s finally now time to announce the results of Challenge 1.

Quick recap of the challenge

Before I announce the winners, here is a quick recap of Challenge 1.

For Challenge 1, participants were required to write a post explaining how they have or would cope with living with a tighter budget. Participants were given the freedom to be as creative as they like in terms of describing what they have done or would do. Participants have been advised to apply economics to their recommendations but have also been recommended to explain these recommendations using terminology easy for the everyday reader to understand.

Here is a link to the original Challenge 1 post

Quick recap of the prizes

So here is a just a quick recap of the prizes up for grabs for this challenge.

• Top post based on votes wins 10 SBD
• Second post based on votes wins 5 SBD
• Spectrum Economics favourite post or highest alternative scoring (I will explain what this means for each individual challenge) wins 10 SBD. For challenge 1, I will select my favourite post for the prize.

Participants

I would like to thank all four participants for entering and taking the time to write posts. The participants are as followers.

• Entrant 1 @blackempror
• Entrant 2 @toyinbaruba
• Entrant 3 @the-fundraiser
• Entrant 4 @rayne122

I would also like to thank those that took the time to read the participants entries as well as vote for our winners.

Results from Challenge 1

The winner of Challenge 1 with a total of 36 votes is @the-fundraiser. In second place with 24 votes is @toyinbaruba. Congratulations @the-fundraiser you have won 10 SBD and @toyinbaruba you have won 5 SBD. I will get this prize money to you shortly.

In addition to the prizes based on voting, I get to select my favourite post. After careful consideration, I have chosen the post from @rayne122 as the winner of the Spectrum Economics Best Post Award. I thought your post was very well put together. You provided excellent examples of how to prioritise spending when faced with a tight budget. I think non-economists would be able to make good use of your ideas in order to cope better when money is short. You also win 10 SBD.

Other challenges underway

Challenge 3 is currently under way and Challenge 2 is at the voting stage. If you want to know more about these challenges, the links are below.

Challenge 2 – Voting-in-progress

Challenge 3 – Trading Game