Simulation Summary

OPEQ V 2.0 immerses students in the intricate world of oligopolistic oil pricing, where each team attempts to maximize cumulative profits for their own country, set within a global context. In OPEQ, you are part of a world comprising 3 member nations-Alba, Batia, and Capita- each with varying degrees of diplomatic relations. Players are tasked with setting petroleum production levels in competition with other countries to maximize cumulative profits, and tension between cooperation and self-interest intensifies with each round of the game, as the seemingly simple goal of augmenting oil revenue is complicated by challenges unique to an oligopolistic market structure. Players quickly learn the importance of communication, negotiation, and best-response functions as they strive to achieve Nash equilibrium in an interdependent market. OPEQ offers instructors a robust tool for exploring the dynamics of cartels and competition, negotiation, best-response strategies, Nash equilibrium, and numerous other economic principles.

This simulation gives students critical insight into the mechanics of cooperation, illustrating how trust promotes cooperation and revealing how students build, break, or attempt to restore trust.

OPEQ is steeped in game theory and creates the perfect conditions to explore conflict, cooperation, and other relational aspects where decision-making is key- all while incorporating unexpected events to enhance the simulation’s complexity.

Developed by Maurice Schweitzer, Wharton’s premier professor of Operations and Information Management, in partnership with The Learning Lab, OPEQ is highly configurable and easily tailored to teach an array of negotiation and economic principles. Beyond its wide range of configurable game settings—which let facilitators tailor the in-class experience to their learning objectives and time constraints—the simulation also delivers dynamic, real-time data and in-depth debrief analyses.