A cartel is unstable if one or more of its members can earn higher revenues in the long run by undercutting the cartel price and expanding production. In this paper dynamic and static models of the world bauxite market are used to assess the stability of the International Bauxite Association, to...

Low wellhead ceiling prices over the past decade have led to the beginning of a shortage in natural gas production. If the demand for gas grows as expected during the 1970s, and if ceiling prices remain low as a result of restrictive regulatory policy, this shortage could grow significantly....

Three different econometric models of natural gas exploration and discovery have appeared in recent issues of this Journal. By estimating all of them over the same period and with the same data base, and then by simulating each of them as part of a complete supply-demand model, we can compare...