Educational Simulations in the Domain of Microeconomics

Lemonade-Stand-1

A model of a lemonade stand as a manufacturing company that engages in sales price planning, demand forecasting, and production planning with a bill of materials.

Four-Stage-Supply-Chain-1

The four stage (single-product) supply chain of the classical "Beer Game" consists of a retailer, a wholesaler, a distributor and a factory.

Articles

1. In The Hotel Game: Pricing Simulations with Opaque and Transparent Channels, Florencia Jaureguiberry and Mariano Tappata (2015) present a pricing simulation game that provides insights into the relationship between selling channels, market structure, and optimal pricing.
2. In Simulating Price-Taking, Lucas M. Engelhardt (2013) presents a market simulation demonstrating that price-taking behavior is a natural result of the conditions that create perfect competition.