J. Crémer, D. Salehi-Isfahani

Models of the Oil Market

• Gebundenes Buch

Produktbeschreibung

Economists have proposed a large variety of models of the oil market and this survey integrates them in a coherent framework.

Produktdetails

• Verlag: Taylor & Francis
• Seitenzahl: 120
• Erscheinungstermin: 6. Dezember 2001
• Englisch
• Abmessung: 222mm x 145mm x 10mm
• Gewicht: 292g
• ISBN-13: 9780415274616
• ISBN-10: 0415274613
• Artikelnr.: 21523234

Autorenporträt

Crémer, J.; Salehi-Isfahani, D.

Inhaltsangabe

1. Introduction
2. Historical Overview of the Market
2.1. Introduction
2.2. 1945 to 1970
2.3. 1970 to 1973
2.4. The 1973 price increase
2.5. 1974 to 1978
2.6. The 1979-1980 price increases
2.7. 1981 to the present
3. Informal Models
3.1. Introduction
3.2. The relevance of exhaustibility
3.3. Competitive supply of oil
3.4. Demand
3.5. Models emphasizing monopoly behavior
3.5.1. The cartel model: theory
3.5.2. Dominant firm: theory
3.5.3. The cartel model: application to the oil market
3.5.4. The dominant firm model: application to the oil market
3.6. Models emphasizing competitive behavior
3.6.1. Backward bending supply curve
3.6.2. Property rights model
3.6.3. Supply shock models
3.7. Conclusion
4. Simulation Models
4.1. Introduction
4.2. Model building for the oil market
4.2.1. The 'ideal' model
4.2.2. Problems of implementation of the ideal model
4.3. Results
4.4. Conclusion
5. Theoretical Models
5.1. Introduction
5.2. Modeling production
5.3. Games between producers and consumers
6. Empirical Tests of the Oil Market
6.1. Introduction
6.2. Econometric tests
7. Consensus and Open Issues
8. Conclusion
Bibliography
Epilogue
Index