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NumEconCopenhagen / Projects_2024_Emma-Anna-Oscar

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Peer feedback modelproject alberto-frederik-patryk #7

Open paryk opened 4 months ago

paryk commented 4 months ago

  1. The most elegant solution in the project was: The most elegant solution in the project was the implementation of the Cournot Duopoly model within a class structure. The class CournotDuopoly encapsulates all necessary functions and parameters, making the code modular and easy to understand. The use of Python's SimpleNamespace for parameters is a particularly elegant touch, providing a clean way to handle and reference parameters throughout the model.

  2. The hardest section of code in the project to understand was: The hardest section to understand was the numerical optimization functions using scipy.optimize. Specifically, the minimize and minimize_scalar functions, which are used to find Nash Equilibria, might be difficult for someone not familiar with numerical optimization techniques. Additionally, the interplay between these functions and the economic theory behind the Cournot model could benefit from more explanation.

  3. This part of the project could be better documented: The documentation for the numerical solution section could be improved. While the code itself is well-organized, adding more detailed comments explaining each step of the optimization process and how it relates to finding the Nash Equilibrium would be beneficial. Including explanations for why certain methods were chosen over others would also enhance understanding.

  4. An idea for an improvement/clarification could be: An improvement could be to add more interactive visualizations. While there are some interactive elements using ipywidgets, expanding these to allow users to explore the effects of varying all parameters (demand slope, marginal cost, etc.) simultaneously could provide deeper insights. Additionally, adding more context in markdown cells about the economic implications of the results would help bridge the gap between the code and its real-world applications.

  5. An idea for an extension could be: An extension could be to explore different types of market structures or strategic interactions beyond the Cournot model. For example, analyzing Stackelberg competition, where firms choose quantities sequentially rather than simultaneously, could provide a richer analysis of strategic behaviour. Additionally, incorporating elements such as collusion or price competition (Bertrand model) would add depth to the project and showcase a variety of economic scenarios.

Next Steps:

annaabildskov commented 4 months ago

Hey @paryk,

We can see that you've opened up this issue for giving feedback on our model project, but seems you either forgot to save/post it or something happened. Can we ask when you plan to fill it out, as we are trying to delegate jobs within our own group based on this feedback and would like to be able to take your feedback into account? :)

Thanks very much, Emma, Oscar and Anna

paryk commented 4 months ago

Hey,

nice you gave me a notice, indeed my work didn't save for some reason. I will do it again this evening. Sorry about that.

Thanks Patryk

On Wed, 22 May 2024, 14:02 Anna Abildskov Petersen, < @.***> wrote:

Hey @paryk https://github.com/paryk,

We can see that you've opened up this issue for giving feedback on our model project, but seems you either forgot to save/post it or something happened. Can we ask when you plan to fill it out, as we are trying to delegate jobs within our own group based on this feedback and would like to be able to take your feedback into account? :)

Thanks very much, Emma, Oscar and Anna

— Reply to this email directly, view it on GitHub https://github.com/NumEconCopenhagen/Projects_2024_Emma-Anna-Oscar/issues/7#issuecomment-2124622141, or unsubscribe https://github.com/notifications/unsubscribe-auth/AVFCA3FQY2OFLVKTCRUBRYTZDSCNBAVCNFSM6AAAAABH6WCE3SVHI2DSMVQWIX3LMV43OSLTON2WKQ3PNVWWK3TUHMZDCMRUGYZDEMJUGE . You are receiving this because you were mentioned.Message ID: <NumEconCopenhagen/Projects_2024_Emma-Anna-Oscar/issues/7/2124622141@ github.com>

paryk commented 4 months ago

I edited the initial comment, good luck with the implementation!

annaabildskov commented 4 months ago

Thank you for both the feedback and the good luck!