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Numerical simulations of competition in quantities

Author

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  • Gorry, Devon
  • Gilbert, John

Abstract

We present a series of numerical simulation models built in Excel that can be used to explore the properties of various models of strategic competition in quantities and their economic implications. The resources incorporate both tabular and graphical data presentation formats and are built in such a way that they provide instant or ‘live’ feedback on the consequences of changes in the economic system. We discuss the theory behind the models, how they can be implemented as numerical simulations in Excel, and ways in which the simulations can be used to enhance student understanding of the material.

Suggested Citation

  • Gorry, Devon & Gilbert, John, 2015. "Numerical simulations of competition in quantities," International Review of Economics Education, Elsevier, vol. 18(C), pages 49-61.
    • Handle: RePEc:eee:ireced:v:18:y:2015:i:c:p:49-61
    DOI: 10.1016/j.iree.2015.01.003
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    Cited by:

    1. Hashimzade, Nigar & Kirsanov, Oleg & Kirsanova, Tatiana, 2025. "Integrating programming into the modern undergraduate economics curriculum," International Review of Economics Education, Elsevier, vol. 49(C).
    2. Sarah A. Jacobson & Luyao Zhang & Jiasheng Zhu, 2024. "The right tool for the job: matching active learning techniques to learning objectives," Advances in Economics Education, Edward Elgar Publishing, vol. 3(2), pages 164-187, December.
    3. Pezzino, Mario, 2016. "Understanding strategic competition using numerical simulations and dynamic diagrams in Mathematica," International Review of Economics Education, Elsevier, vol. 22(C), pages 34-47.

    More about this item

    Keywords

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    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection

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