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a standard cartel, its individual members can significantly influence prices by acting as powerful oligopolists …
Persistent link: https://www.econbiz.de/10011601275
a standard cartel, its individual members can significantly influence prices by acting as powerful oligopolists …
Persistent link: https://www.econbiz.de/10005026860
This paper proposes a partial equilibrium model to describe the global crude oil market. Pricing on the global crude oil market is strongly influenced by price indices such as WTI (USA) and Brent (Northwest Europe). Adapting an approach for pool-based electricity markets, the model captures the...
Persistent link: https://www.econbiz.de/10010271092
This paper proposes a partial equilibrium model to describe the global crude oil market. Pricing on the global crude oil market is strongly influenced by price indices such as WTI (USA) and Brent (Northwest Europe). Adapting an approach for pool-based electricity markets, the model captures the...
Persistent link: https://www.econbiz.de/10004963660
-cooperative way. -- Crude oil ; market structure ; cartel ; pool market ; simulation model …
Persistent link: https://www.econbiz.de/10003821875
This paper proposes a partial equilibrium model to describe the global crude oil market. Pricing on the global crude oil market is strongly influenced by price indices such as WTI (USA) and Brent (Northwest Europe). Adapting an approach for pool-based electricity markets, the model captures the...
Persistent link: https://www.econbiz.de/10014206529
role of dominant producer within the cartel …
Persistent link: https://www.econbiz.de/10012708235
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
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/10012419719
Motivated by the European Union's debate on sanctioning crude oil imports from Russia, we estimate the elasticity of substitution between different crude oil types. Using European data on country-level crude oil imports by field of origin, we argue that crude oil is not a homogenous good and...
Persistent link: https://www.econbiz.de/10014364721