Energy and market power: an alternative approach to the economics of oil
After recalling the existence of two competitive approaches to economics, the "subjective" and the "objective" one, and the main stylized facts about the energy sector,the paper critically examines different versions of "mainstream" economics of oil and sketches an alternative approach, based on the notion of "trilateral oligopoly." Some implications of this approach (dynamic rather than static substitution, an environmental policy based not on fears of scarcity but on the notion of sustainable development, the need for antitrust intervention for stabilizing oil prices) are then examined.
Volume (Year): 25 (2003)
Issue (Month): 4 (July)
|Contact details of provider:|| Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348|
When requesting a correction, please mention this item's handle: RePEc:mes:postke:v:25:y:2003:i:4:p:641-659. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen)The email address of this maintainer does not seem to be valid anymore. Please ask Chris Nguyen to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.