Numerical simulations of competition in quantities

Devon Gorry and John Gilbert

International Review of Economics Education, 2015, vol. 18, issue C, 49-61

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.

Keywords: Excel; Numerical model; Competition in quantities (search for similar items in EconPapers)
JEL-codes: A22 C63 D43 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ireced:v:18:y:2015:i:c:p:49-61

DOI: 10.1016/j.iree.2015.01.003

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