We try to determine whether capacity expansion timing in oligopoly among incumbents can be considered mobility deterring. We study the United Kingdom ´s petroleum refining industry between 1948 and 1998. Using tobit models, evidence is conclusive about accommodation among incumbents. We infer...

We try to get a handle on whether capacity expansion timing patterns in oligopoly among incumbents are followed. We study the United Kingdom ´s petroleum refining industry between 1948 and 1998. Using fixed-effects logit models, we find that U.K.´s refiners have not followed any definite...

We try to get a handle on whether capacity expansion timing patterns in oligopoly among incumbents are followed. We study the United Kingdom ´s petroleum refining industry between 1948 and 1998. Using fixed-effects logit models, we find that U.K.´s refiners have not followed any definite...

Why did OPEC not cut oil production in the wake of 2014’s price fall? This study aims at aiding the mostly qualitative discussion with quantitative evidence from computing quarterly partial market equilibria Q4 2011 – Q4 2015 under present short-term profit maximisation and different...

Why did OPEC not cut oil production in the wake of 2014’s price fall? This study aims at aiding the mostly qualitative discussion with quantitative evidence from computing quarterly partial market equi-libria Q4 2011 – Q4 2015 under present short-term profit maximisation and different...

“Being rich in energy resources – a blessing or a curse” finds that an energy resource curse plagues many EU supplier states. This in turn directly affects Europe’s energy supply security and threatens to engulf Europe in unwanted hostilities at home and abroad. The study addresses seven...

There is an adage about wealth and democracy that says “the more well-to-do a nation, the greater the chances it will sustain democracy.” Accordingly, one would expect that nations rich in natural resources, and particularly those with large deposits of oil – a clear absolute advantage –...

Different structures of lignite mines and power stations, which have appeared on the Polish market as a result of its transformation and the privatisation, were discussed. The attention is focused on the fact that the practice is overtaking the theory because there is lack of models of...

For methods of the profit division in the bilateral monopoly of the mine and the power station sug-gested in the first part of this paper the formulae for lignite price and shares in the joint profit of the mine and the power station are calculated. The proposed profit division contain: the...