Alternative market structures are distinguishable by the degree of parallel action exhibited by producers. We show that the correlation between output levels varies systematically with the degree of interdependence among firms, and establish an ordering among alternative behavioral hypotheses...

I estimate world demand for crude petroleum, the effect of petroleum prices on world income, and non OPEC supply of crude petroleum using seasonally adjusted data and a number of instruments. Structural breaks help explain stationarity in demand, and cointegration of variables suggests...

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...