If you are experiencing problems downloading PDF or HTML fulltext, our helpdesk recommend clearing your browser cache and trying again. If you need help in clearing your cache, please click here . Still need help? Email help@ingentaconnect.com

Cartel formation and oligopoly structure: a new assessment of the crude oil market

$54.78 plus tax (Refund Policy)

Buy Article:

Abstract:

While economic theorists regard OPEC as a perfect example of a long-lasting cartel, energy economists strongly deny such view. Applying the ideas of New Empirical Industrial Organization, a market description is derived. Cartel theory and empirical evidence fit together well. Stable long-lasting cartels can be explained only for subclasses of market models and exactly such type of model is obtained here. A variety of different market models is tested. OPEC and the market for crude oil is best described by a price-leader model.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/0003684042000191093

Publication date: July 1, 2004

More about this publication?
Related content

Share Content

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
X
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more