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Crude oil : market trends and simulations point toward stable equilibrium
Zaklan, Aleksandar; Ansari, Dawud; Kemfert, Claudia - In: DIW economic bulletin 7 (2017) 51/52, pp. 567-573
In this study, we report on the current state of the international market for crude oil. The market data we analyzed indicate that competition has intensified as a result of the now firmly-established shale oil extraction industry in the U.S. Model-based simulations also show that supply-side...
Persistent link: https://www.econbiz.de/10011770445
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Understanding crude oil import demand behaviour in Africa : the Ghana case
Marbuah, George - In: Journal of African trade : official journal of the … 4 (2017) 1/2, pp. 75-87
As in many African countries, crude oil importation is a major drain on the economy of Ghana. We estimate short-run and long-run import demand models for crude oil using data over the period 1980-2012. Results show that demand for crude oil is price inelastic in the short-run but elastic in the...
Persistent link: https://www.econbiz.de/10011845477
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Estimating the price and income elasticities of crude oil import demand for Turkey
Kavaz, Ismail - In: International econometric review 12 (2020) 2, pp. 98-111
In this study, the price and income elasticities of Turkey's imported crude oil demand are analysed. In this context, annual time series data covering the period 1970-2018 are preferred for imported crude oil, real price for crude oil and real GDP. As known, Turkey is an energy dependent country...
Persistent link: https://www.econbiz.de/10012432991
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COVID-19 : putting stock markets back on recovery among the Crude Oil Producing Economies
Olakojo, Solomon Abayomi; Onanuga, Abayomi Toyin; … - In: Contemporary economics 15 (2021) 1, pp. 34-52
COVID-19 poses an unprecedented threat to components of global business cycles including stock markets, industrial production and employment. This study investigated its impact on stock markets of 24 oil producing COVID-19-hit economies in North America, South America, Europe, Asia, Oceania and...
Persistent link: https://www.econbiz.de/10012485739
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Unobserved heterogeneity in dynamic games : Cannibalization and preemptive entry of hamburger chains in Canada
Igami, Mitsuru; Yang, Nathan - In: Quantitative economics : QE ; journal of the … 7 (2016) 2, pp. 483-521
We develop a dynamic entry model of multi-store oligopoly with heterogeneous markets, and estimate it using data on hamburger chains in Canada (1970–2005). Because more lucrative markets attract more entry, firms appear to favor the pres- ence of more rivals. Thus unobserved heterogeneity...
Persistent link: https://www.econbiz.de/10011800622
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"Containership Markets" : a comparison with bulk shipping and a proposed oligopoly model
Goulielmos, Alexander M. - In: Spoudai : journal of economics and business 67 (2017) 2, pp. 47-68
The paper unveils the market structure of container shipping, which suffers by many interpretations. Existing models regress between contestability, duopoly, monopolistic competition and game theory. This paper proposes an oligopoly model with two groups of companies: oligopolists and...
Persistent link: https://www.econbiz.de/10011737687
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Imperfect collusion in an asymmetric duopoly
Escrihuela-Villar, Marc; Gutiérrez-Hita, Carlos - In: Estudios de economía 45 (2018) 1, pp. 29-50
Using the coefficient of cooperation, we analyse the effect of cost asymmetries on collusive agreements when firms are able to coordinate on distinct output levels than the unrestricted joint profit maximization outcome. In this context, we first investigate the extent to which collusive...
Persistent link: https://www.econbiz.de/10011982484
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Strategic leniency and cartel enforcement
Miller, Nathan H. - In: The American economic review 99 (2009) 3, pp. 750-768
Persistent link: https://www.econbiz.de/10003863197
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Cartel formation in Cournot competition with asymmetric costs : a partition function approach
Abe, Takaaki - In: Games 12 (2021) 1/14, pp. 1-16
In this paper, we use a partition function form game to analyze cartel formation among firms in Cournot competition. We … level of the cost advantage is "moderate", then the firm with the cost advantage leads the cartel formation among the firms …. Moreover, if the cost advantage is relatively high, then the formed cartel can also be stable in the sense of the core of a …
Persistent link: https://www.econbiz.de/10012432603
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Is voting for a cartel a sign of cooperativeness?
Gillet, Joris - In: Games 12 (2021) 2, pp. 1-10
This paper tests the hypothesis that a (partial) reason why cartels - collective but costly and non-binding price agreements - lead to higher prices in a Bertrand oligopoly could be because of a selection effect: decision-makers who are willing to form price agreements are more likely to be less...
Persistent link: https://www.econbiz.de/10012547790