Bharati, Rakesh; Crain, Susan J.; Kaminski, Vincent - In: Energy Economics 34 (2012) 4, pp. 1115-1123
This paper studies the target pricing zone (TPZ) hypothesis for crude oil by examining price clustering in the dollar digit. It is hypothesized that price clustering occurs within an established TPZ if OPEC is able to defend the upper and lower bounds through output changes. The results show...