IDEAS home Printed from https://ideas.repec.org/a/eee/ireced/v18y2015icp49-61.html
   My bibliography  Save this article

Numerical simulations of competition in quantities

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1477388015000067
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iree.2015.01.003?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. John Gilbert & Reza Oladi, 2011. "Excel Models for International Trade Theory and Policy: An Online Resource," The Journal of Economic Education, Taylor & Francis Journals, vol. 42(1), pages 95-95, January.
    2. Findley, T. Scott, 2014. "Using MS Excel to solve and simulate the Life-Cycle/Permanent-Income Model of Consumption and Saving," International Review of Economics Education, Elsevier, vol. 16(PB), pages 129-146.
    3. Briand, Genevieve & Hill, R. Carter, 2013. "Teaching basic econometric concepts using Monte Carlo simulations in Excel," International Review of Economics Education, Elsevier, vol. 12(C), pages 60-79.
    4. Nick L. Guo & John Gilbert, 2014. "Demystifying Financial Markets for Saving and Insurance with Numerical Models," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(1), pages 78-78, March.
    5. Jonathan B. Wight, 1999. "Using Electronic Data Tools in Writing Assignments," The Journal of Economic Education, Taylor & Francis Journals, vol. 30(1), pages 21-27, January.
    6. J. Wilson Mixon, Jr. & Soumaya Tohamy, 2001. "Using Microsoft Excel in Principles of Economics," Computers in Higher Education Economics Review, Economics Network, University of Bristol, vol. 14(2), pages 4-6.
    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


    Cited by:

    1. Sarah A. Jacobson & Luyao Zhang & Jiasheng Zhu, 2022. "The Right Tool for the Job: Matching Active Learning Techniques to Learning Objectives," Papers 2205.03393, arXiv.org, revised Jul 2022.
    2. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. John Gilbert & Onur A. Koska & Reza Oladi, 2022. "Building and Using Nonlinear Excel Simulations: An Application to the Specific Factors Model," Working Papers in Economics 22/08, University of Canterbury, Department of Economics and Finance.
    2. John Gilbert & Onur A. Koska & Reza Oladi, 2023. "Building and using nonlinear simulations in Excel with an application to the specific factors model," Southern Economic Journal, John Wiley & Sons, vol. 89(4), pages 1242-1265, April.
    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.
    4. Gilbert John & Oladi Reza, 2007. "Simulating Tariffs vs. Quotas with Domestic Monopoly," Journal of Industrial Organization Education, De Gruyter, vol. 2(1), pages 1-11, October.
    5. Hall, Joshua C. & Podemska-Mikluch, Marta, 2015. "Teaching the economic way of thinking through Op-eds," International Review of Economics Education, Elsevier, vol. 19(C), pages 13-21.
    6. Vikram Dayal & Anand Murugesan, 2020. "Demystifying causal inference: ingredients of a recipe," IEG Working Papers 393, Institute of Economic Growth.
    7. Marketa Halova Wolfe, 2023. "Incorporating Racial Justice Topics into an Econometrics Course," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 49(3), pages 312-327, June.
    8. Lin, Yu-Hsuan, 2021. "A classroom experiment on the specific factors model," International Review of Economics Education, Elsevier, vol. 37(C).
    9. John Gilbert, 2009. "A 'Live' Version of the Specific Factors Model in Excel," Working Papers 200906, Utah State University, Department of Economics and Finance, revised 11 Oct 2009.
    10. Reza Oladi & John Gilbert, 2006. "A Simulation Experiment of a Customs Union," Computers in Higher Education Economics Review, Economics Network, University of Bristol, vol. 18(1), pages 29-33.
    11. Elizabeth Perry-Sizemore & Steven A. Greenlaw, 2011. "Writing for Learning in Economics," Chapters, in: Gail M. Hoyt & KimMarie McGoldrick (ed.), International Handbook on Teaching and Learning Economics, chapter 12, Edward Elgar Publishing.
    12. Hongxiang Zhang, 2017. "Accommodating Different Learning Styles in the Teaching of Economics: with Emphasis on Fleming and Mills¡¯s Sensory-based Learning Style Typology," Applied Economics and Finance, Redfame publishing, vol. 4(1), pages 72-83, January.
    13. Bongers, Anelí & Gómez, Trinidad & Torres, José L., 2020. "Teaching dynamic General equilibrium macroeconomics to undergraduates using a spreadsheet," International Review of Economics Education, Elsevier, vol. 35(C).
    14. Tsigaris, Panagiotis & Wood, Joel, 2016. "A simple climate-Solow model for introducing the economics of climate change to undergraduate students," International Review of Economics Education, Elsevier, vol. 23(C), pages 65-81.
    15. Tanya Byker & Amanda Gregg & Dylan Mortimer, 2022. "Interactive Web-based Simulations to Teach Econometrics: Making Abstract Concepts Tangible," Journal of Economics Teaching, Journal of Economics Teaching, vol. 7(2), pages 92-102, May.

    More about this item

    Keywords

    Excel; Numerical model; Competition in quantities;
    All these keywords.

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ireced:v:18:y:2015:i:c:p:49-61. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/international-review-of-economics-education .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.