Comincioli, Nicola; Hagspiel, Verena; Kort, Peter M.; … - 2020
recent strategic interactions between OPEC and the shale oil industry, we conduct a case study where the incumbent OPEC is a … exible producer that competes with a representative shale oil firm. Upon entry, the latter produces a fixed amount but it can … (shale) oil market learns that a higher demand elasticity induces mothballing. …