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Models of strategic interaction in quantities vs. prices with differentiated goods

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  • Nguyen, Quyen
  • Gilbert, John

Abstract

Two important topics in industrial organization are the difference between quantity and price competition in oligopoly, and the role of product differentiation in determining market outcomes. We consider a consistent framework in which these issues can be explored, using a base model of product differentiation. We consider the properties of the market outcomes under price and quantity competition, with both simultaneous and sequential moves. We then present a series of numerical simulation models that can be used to efficiently explore the model properties under various assumptions. The models are built in Excel, and utilize both numerical and graphical presentations. They are suitable for classroom use in presentations, and in directed student assignments. We discuss a number of exercises, and our experiences with using the models in a number of different course contexts.

Suggested Citation

  • Nguyen, Quyen & Gilbert, John, 2019. "Models of strategic interaction in quantities vs. prices with differentiated goods," International Review of Economics Education, Elsevier, vol. 30(C), pages 1-1.
    • Handle: RePEc:eee:ireced:v:30:y:2019:i:c:11
    DOI: 10.1016/j.iree.2018.08.002
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    More about this item

    Keywords

    Excel; Numerical models; Competition in quantities; Competition in prices;
    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

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