OPEQ
Faculty Author: Maurice E. Schweitzer
Students represent oil-producing countries and try to maximize profits by setting prices and production levels
- About OPEQ
- More Details
- User Interface
- Administrative Tools
In the world of OPEQ, there are only three oil-producing countries. In a typical simulation, a small team of Wharton students assumes the role of the Oil Production Board for one country. They set production levels for each year with the goal of maximizing their own country's profits. Pitted against that team are two other teams representing the other two countries. A group of three competing countries is termed a 'World'. OPEQ is capable of simultaneously running and tracking games for multiple Worlds. This not only keeps team sizes manageable, it also provides data for comparative analysis on team strategy and performance.
All teams are given the same amounts and types of information, such as equations predicting the market price of oil and the resulting profit margins. However, they are not informed of the production levels set by the other countries until they have set their own. Periodic unexpected 'events' further complicate the picture, forcing the teams to make decisions in an uncertain and changing environment.
After production levels have been set, the application computes and displays both individual country profits and total world profits and the next round begins.