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of prices and quantities by a cartel of oil exporters, such as the OPEC, can affect the directions of the changes in the … easier to occur if the cartel sets the price of oil, but the re-sult is reversed if the cartel sets the quantity of … Moderation) in oil importing countries since the mid-1980s when the OPEC cartel changed its market strategies from setting prices …
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In this paper, decisions regarding production in oil exporting countries are studied by means of theoretical analysis and empirical investigation. Under the assumptions of exogenous oil prices and world oil demand, we are able to describe the relationship between oil production levels and...
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The aim of this paper is to investigate how major net oil exporter economies react to oil price shocks. We contribute to the literature by considering, at the same time, the possible nonlinearity and asymmetry of this relationship with respect to sign, size and causes of the oil price shocks, as...
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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...
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