IDEAS home Printed from https://ideas.repec.org/h/spr/isochp/978-3-030-19107-8_22.html
   My bibliography  Save this book chapter

Correction to: Frugals, Militants and the Oil Market

In: Games in Management Science

Author

Listed:
  • Etienne Billette de Villemeur

    (Université de Lille)

  • Pierre-Olivier Pineau

    (HEC Montréal Energy Sector Management)

Abstract

The oil market has often been modeled as an oligopoly where the strategic players are producers. With climate change, a new sort of game appeared, where environmental militants play a significant role by opposing some projects, to contain oil production. At the same time, consumers continue to use increasing amounts of oil, independently of oil price fluctuations. Should we oppose oil projects, reduce demand or both? We investigate in this paper the double prisoner’s dilemma in which individuals find themselves, with respect to oil consumption and their environmental stance towards the oil industry. We find that the collective outcome of such game is clearly better when a frugal behaviour is adopted, without being militant. The Nash equilibrium, resulting from the individual strategies, leads by contrast to the worst possible outcome: high prices, high consumption and high environmental (negative) impact. An effective environmental action should avoid opposing oil supply sources (a costly militant act) and help consumers becoming more frugal.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Etienne Billette de Villemeur & Pierre-Olivier Pineau, 2020. "Correction to: Frugals, Militants and the Oil Market," International Series in Operations Research & Management Science, in: Pierre-Olivier Pineau & Simon Sigué & Sihem Taboubi (ed.), Games in Management Science, pages C1-C1, Springer.
    • Handle: RePEc:spr:isochp:978-3-030-19107-8_22
    DOI: 10.1007/978-3-030-19107-8_22
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    Other versions of this item:

    More about this item

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:isochp:978-3-030-19107-8_22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.