Talk:Cobweb model

Some sections of this read like an undergrad thesis --Anon 03 June 2024 19:17 (CET)

I know that it might be more logical to have price on the x-axis and quantity on the y-axis for supply/demand diagrams, but the general convention seems to be having price marked verticaly and quantity horizontally like in Supply and Demand - do you think the diagram would be more clear like that? --Alex Whittaker 29 June 2005 10:37 (UTC)

As someone who does A2 level Economics (UK) I would consider the axis the wrong way round. I've always been taught that price is Y, as you'd expect on all diagrams and would expect to loose marks in an exam if I did it the other way around.

I agree. The x and y axis should be switched. I will attempt to do this when I get enough time. Mdelves 23:50, 12 October 2006 (UTC)

-- I think price should be on the x-axis and quantity on the y-axis. The current diagram is a bit confusing... JKleo 16:59, 21 August 2006 (UTC)

Fuck the douchebag who flipped the axes on that diagram. Get the price on the vertical axis.
 * Although the axes are opposite of what's "normally" used in economic papers and textbooks, the graph is not technically incorrect and still provides information to the reader by visually showing the convergence case. I've reverted the page back to before the graph was removed. A better solution would be create a new image rather then remove it. Mdelves 01:03, 8 December 2006 (UTC)

I was taught (for some reason) that while Price usually goes on y and Quantity on x, for Cobweb Theory they are reversed to make visualisation easier - and the spiral goes anticlockwise (elasticity dependant). --poorsodtalk 12:12, 12 January 2008 (UTC)
 * Obviously it can be graphed with either quantity on the axis. I'm not so concerned about that. The reason I redid the old graph is that the sequence of points mapped out on the old graph was inconsistent with the verbal description of the mechanism in the article. If you want to see a reputable textbook graph that places the axes the same way I did, and shows a clockwise spiral, see Fig. 17.7 in Nicholson's Microeconomic Theory, 7th ed. --Rinconsoleao (talk) 21:51, 15 January 2008 (UTC)

Diagram wrong again
As of Nov. 11, the diagrams have been replaced with a new version where the points describing the dynamics have been wrongly placed. For example, in both diagrams, "P1" should be the upper point located on the D curve, not the lower point on S. Rinconsoleao (talk) 14:08, 20 January 2011 (UTC)

Also, the subindices are misleading. "Q1" to "Q6" suggests six periods, but actually only three periods' dynamics are shown. (What's labelled "Q6" and "P6" should actually be "Q3" and "P3".)

I have no way to edit these graphs. To correct them, prices should be associated with the demand curve, not the supply curve. (Prices on the supply curve represent expectations. Prices on the demand curve are the ones that actually occur in the market.) It would be helpful to label Q1, Q2, Q3 and the corresponding P1, P2, P3. Rinconsoleao (talk) 14:14, 20 January 2011 (UTC)
 * Yup, I'm with you. Updated to reflect your concerns. - Jarry1250 [Who? Discuss.] 18:09, 20 January 2011 (UTC)

(Moving corrected graphs back to article, 20 Jan.) Rinconsoleao (talk) 11:12, 21 January 2011 (UTC)

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