Testing the hypothesis of collusive behavior among OPEC members
AbstractThis paper presents a test to discriminate among behaviors of producers of exhaustible resources. The behavior of a competitive producer of an exhaustible resource should follow an Euler equation. The existence of futures markets allows us to sidestep the difficult issues related to estimating future prices and demand. This theoretical framework is used to test the hypothesis of collusive OPEC behavior between 1983 and 1991.
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Bibliographic InfoArticle provided by Elsevier in its journal Energy Economics.
Volume (Year): 23 (2001)
Issue (Month): 3 (May)
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Web page: http://www.elsevier.com/locate/eneco
Other versions of this item:
- Antonio Spilimbergo, 1995. "Testing the Hypothesis of Collusive Behavior Among OPEC Members," Research Department Publications 4016, Inter-American Development Bank, Research Department.
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