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Utah State University

2015

Economics and Finance Faculty Publications

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Numerical Simulations Of Competition In Quantities, Devon Haskell Gorry, John Gilbert Jan 2015

Numerical Simulations Of Competition In Quantities, Devon Haskell Gorry, John Gilbert

Economics and Finance Faculty Publications

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.