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Mothballing in a duopoly: evidence from a (shale) oil market

Comincioli, Nicola; Hagspiel, Verena; Kort, Peter M.; … - 2020

The mothballing option has been studied in the literature, but mainly in decision theoretic frameworks. This paper looks at it from a strategic point of view and applies it to an incumbent-entrant framework. In particular, based on the recent strategic interactions between OPEC and the shale oil...

Persistent link: https://www.econbiz.de/10012306741

Vertical differentiation and collusion : cannibalization or proliferation?

Gabszewicz, Jean Jaskold; Marini, Marco A.; Tarola, Ornella - 2016

In this paper, we tackle the dilemma of pruning versus proliferation in a vertically differentiated oligopoly under the assumption that some firms collude and control both the range of variants for sale and their corresponding prices, likewise a multiproduct firm. We analyse whether pruning...

Persistent link: https://www.econbiz.de/10011451580

Collusive agreements in vertically differentiated markets

Marini, Marco A. - 2017

proliferating their products. It is shown that a selective pruning within the cartel always occurs. Moreover, by associating a … cooperative (or coalitional) stability of the whole industry cartel is the equidistance of firms’ products along the quality …

Persistent link: https://www.econbiz.de/10011660599

The impacts of exogenous oil supply shocks on Mediterranean economies

Bastianin, Andrea; Galeotti, Marzio; Manera, Matteo - 2015

The security of energy supply is a key geopolitical factor in the relationship between the European Union and the southern neighborhood countries of the Middle East and North Africa region. We study the response of eight Mediterranean economies to exogenous oil supply shocks. We focus on the...

Persistent link: https://www.econbiz.de/10011438640

Oil security : short- and long-term policies

Costantini, Valeria; Gracceva, Francesco - 2004

Increasing oil security represents one of the most important policy actions, especially within IEA countries. Short and long term mechanisms could help such goal. On the short term side, revision of IEA emergency response oil stock system has been discussed. The attention is mainly focused on...

Persistent link: https://www.econbiz.de/10011606712

Interpreting the oil risk premium : do oil price shocks matter?

Valenti, Daniele; Manera, Matteo; Sbuelz, Alessandro - 2018

This paper provides an analysis of the link between the global market for crude oil and oil futures risk premium at the aggregate level. It off ers empirical evidence on whether the compensation for risk required by the speculators depends on the type of the structural shock of interest....

Persistent link: https://www.econbiz.de/10011794500

Modelling the global price of oil : is there any role for the oil futures-spot spread?

Valenti, Daniele - 2018

In this work, we propose an analysis of the global market for crude oil based on a revised version of the Structural Vector Autoregressive (SVAR) model introduced by Kilian and Murphy (2014). On this respect, we replace the global proxy for above-ground crude oil inventories with the oil...

Persistent link: https://www.econbiz.de/10011794647

The external cost of European crude oil imports

Bigano, Andrea; Cassinelli, Mariaester; Sferra, Fabio; … - 2009

This paper is the first to assess operational and probabilistic externalities of oil extraction and transportation to Europe on the basis of a comprehensive evaluation of realistic future oil demand-supply scenarios, of the relative relevance of import routes, of the local specificities in terms...

Persistent link: https://www.econbiz.de/10008809694

Cartel sustainability and cartel stability

Escrihuela-Villar, Marc - 2004

The paper studies how does the size of a cartel affect the possibility that its members can sustain a collusive … agreement. I obtain that collusion is easier to sustain the larger the cartel is. Then, I explore the implications of this … result on the incentives of firms to participate in a cartel. Firms will be more willing to participate because otherwise …

Persistent link: https://www.econbiz.de/10011600408

Stability of collusion and quality differentiation : a Nash bargaining approach

Athanasopoulos, Thanos; Dindaroglu, Burak; Petropoulos, … - 2021

more likely to leave the cartel for small quality differences, high quality firms determine cartel stability when the …

Persistent link: https://www.econbiz.de/10012655386