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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
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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
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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
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Oil price shocks and economic growth in oil-exporting countries
Ahmadi, Maryam; Manera, Matteo - 2021
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...
Persistent link: https://www.econbiz.de/10012519959
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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
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OPEC's oil exporting strategy and macroeconomic (in)stability
Aguiar-Conraria, Luís; Wen, Yi - 2011
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 …
Persistent link: https://www.econbiz.de/10008991459
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Reasons behind words : OPEC narratives and the oil market
Brunetti, Celso; Joëts, Marc; Mignon, Valérie - 2023
Persistent link: https://www.econbiz.de/10014384599
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On the economic determinants of oil production : theoretical analysis and empirical evidence for small exporting countries
Cologni, Alessandro; Manera, Matteo - 2011
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...
Persistent link: https://www.econbiz.de/10009231652
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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
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Big fish : oil markets and speculation
Cologni, Alessandro; Scarpa, Elisa; Sitzia, Francesco … - 2015
The role of speculators in the oil markets has been vastly investigated during the last few years. Several authors focused on the definition of speculation while others examined the relationship between oil prices and the behavior of trading actors. In this paper, we formulate a new theory able...
Persistent link: https://www.econbiz.de/10010532119