Advanced Search
MyIDEAS: Login

Moving Economic Models from the Chalk Board to the Computer: A Computer-Based Assignment Based on a Dynamic Cournot Model

Contents:

Author Info

  • Tim Kochanski

    ()
    (Portland State University)

Abstract

This paper presents an iterative model, programmed in Mathematica, which solves time paths for repeated Cournot games allowing us to see how output, price, profits, and market share in the two-firm case change over time when one firm experiences per turn marginal cost reductions. By adjusting the marginal cost reduction rate for one firm and iterating, students can explore the various solutions and gain a better understanding of how the variables in the model diverge over time and the properties of that divergence. More generally, students gain experience designing models and programming in Mathematica and furthermore develop a deeper understanding of iteration in simulations.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.economicsnetwork.ac.uk/cheer/ch19/kochanski.pdf
Download Restriction: no

Bibliographic Info

Article provided by Economics Network, University of Bristol in its journal Computers in Higher Education Economics Review.

Volume (Year): 19 (2007)
Issue (Month): 1 ()
Pages: 24-32

as in new window
Handle: RePEc:che:chepap:v:19:y:2007:i:1:p:24-32

Contact details of provider:
Postal: University of Bristol, BS8 1HH, United Kingdom
Fax: +44(0)117 331 4396
Web page: http://www.economicsnetwork.ac.uk/cheer

Order Information:
Email:

Related research

Keywords:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Hans M. Amman & David A. Kendrick, . "Computational Economics," Online economics textbooks, SUNY-Oswego, Department of Economics, number comp1, January.
  2. David A. Belsley, 1997. "Mathematica as an Environment for doing Economics and Econometrics," Boston College Working Papers in Economics 364, Boston College Department of Economics.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Tim Kochanski, 2012. "Toward Teaching Markets as Complex Systems: A Web Based Simulation Assignment Implemented in Netlogo," International Review of Economic Education, Economics Network, University of Bristol, vol. 11(2), pages 102-114.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:che:chepap:v:19:y:2007:i:1:p:24-32. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Martin Poulter).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.