Matches in SemOpenAlex for { <https://semopenalex.org/work/W1496090160> ?p ?o ?g. }
Showing items 1 to 95 of
95
with 100 items per page.
- W1496090160 endingPage "247" @default.
- W1496090160 startingPage "216" @default.
- W1496090160 abstract "In this paper, I analyze an oligopoly model of exhaustible resource extraction and develop predictions about relative extraction patterns of different producers. Using the ‘oi’'igopoly model of Loury (Internat. Econom. Rev. 27, 285–301 (1986)), one can show that producers with large stocks produce a larger amount, but a smaller percentage, of their stocks than producers with small stocks. I extend Loury's model to cases where extraction costs differ among producers and where costs are a function of cumulative extraction. An increase in extraction costs for a producer causes it to produce less relative to its rivals. When extraction costs rise with cumulative extraction, producers with large reserves tend to have lower extraction costs and a smaller ratio of cumulative production to initial reserves than producers with small reserves. I test the predictions of the model using oil industry data and find that the empirical results are consistent with the predictions of ‘oil’igopoly theory. Producers with larger reserves extract a smaller share of their reserves and have lower production costs than producers with smaller reserves. This pattern holds for 73 countries with oil reserves during the time period 1970–1989, and for approximately 400 U.S. oil companies in 1983 and 1984. The observed pattern of production for both OPEC and non-OPEC producers is consistent with ‘oil’igopoly theory. OPEC producers do not appear to restrain production given their level of reserves relative to non-OPEC producers. Thus, viewing the oil market as containing one dominant firm (OPEC) with a competitive fringe may be misleading. Further, the pattern of extraction observed in oil markets is inconsistent with the pattern predicted by competitive theory." @default.
- W1496090160 created "2016-06-24" @default.
- W1496090160 creator A5068168154 @default.
- W1496090160 date "1992-11-01" @default.
- W1496090160 modified "2023-10-14" @default.
- W1496090160 title "Do oil producers act as ‘Oil’igopolists?" @default.
- W1496090160 cites W1588657532 @default.
- W1496090160 cites W1940235666 @default.
- W1496090160 cites W1966023852 @default.
- W1496090160 cites W1972214711 @default.
- W1496090160 cites W1980789275 @default.
- W1496090160 cites W1982453953 @default.
- W1496090160 cites W2003650092 @default.
- W1496090160 cites W2008042805 @default.
- W1496090160 cites W2012303908 @default.
- W1496090160 cites W2018116852 @default.
- W1496090160 cites W2025238484 @default.
- W1496090160 cites W2039489941 @default.
- W1496090160 cites W2048784859 @default.
- W1496090160 cites W3144738850 @default.
- W1496090160 doi "https://doi.org/10.1016/0095-0696(92)90002-e" @default.
- W1496090160 hasPublicationYear "1992" @default.
- W1496090160 type Work @default.
- W1496090160 sameAs 1496090160 @default.
- W1496090160 citedByCount "41" @default.
- W1496090160 countsByYear W14960901602012 @default.
- W1496090160 countsByYear W14960901602014 @default.
- W1496090160 countsByYear W14960901602016 @default.
- W1496090160 countsByYear W14960901602017 @default.
- W1496090160 countsByYear W14960901602018 @default.
- W1496090160 countsByYear W14960901602020 @default.
- W1496090160 countsByYear W14960901602022 @default.
- W1496090160 crossrefType "journal-article" @default.
- W1496090160 hasAuthorship W1496090160A5068168154 @default.
- W1496090160 hasConcept C121398111 @default.
- W1496090160 hasConcept C144133560 @default.
- W1496090160 hasConcept C151730666 @default.
- W1496090160 hasConcept C162324750 @default.
- W1496090160 hasConcept C16520705 @default.
- W1496090160 hasConcept C175444787 @default.
- W1496090160 hasConcept C175605778 @default.
- W1496090160 hasConcept C177987515 @default.
- W1496090160 hasConcept C185592680 @default.
- W1496090160 hasConcept C18903297 @default.
- W1496090160 hasConcept C206345919 @default.
- W1496090160 hasConcept C2777230293 @default.
- W1496090160 hasConcept C2778348673 @default.
- W1496090160 hasConcept C31258907 @default.
- W1496090160 hasConcept C41008148 @default.
- W1496090160 hasConcept C43617362 @default.
- W1496090160 hasConcept C4725764 @default.
- W1496090160 hasConcept C48824518 @default.
- W1496090160 hasConcept C548895740 @default.
- W1496090160 hasConcept C86803240 @default.
- W1496090160 hasConceptScore W1496090160C121398111 @default.
- W1496090160 hasConceptScore W1496090160C144133560 @default.
- W1496090160 hasConceptScore W1496090160C151730666 @default.
- W1496090160 hasConceptScore W1496090160C162324750 @default.
- W1496090160 hasConceptScore W1496090160C16520705 @default.
- W1496090160 hasConceptScore W1496090160C175444787 @default.
- W1496090160 hasConceptScore W1496090160C175605778 @default.
- W1496090160 hasConceptScore W1496090160C177987515 @default.
- W1496090160 hasConceptScore W1496090160C185592680 @default.
- W1496090160 hasConceptScore W1496090160C18903297 @default.
- W1496090160 hasConceptScore W1496090160C206345919 @default.
- W1496090160 hasConceptScore W1496090160C2777230293 @default.
- W1496090160 hasConceptScore W1496090160C2778348673 @default.
- W1496090160 hasConceptScore W1496090160C31258907 @default.
- W1496090160 hasConceptScore W1496090160C41008148 @default.
- W1496090160 hasConceptScore W1496090160C43617362 @default.
- W1496090160 hasConceptScore W1496090160C4725764 @default.
- W1496090160 hasConceptScore W1496090160C48824518 @default.
- W1496090160 hasConceptScore W1496090160C548895740 @default.
- W1496090160 hasConceptScore W1496090160C86803240 @default.
- W1496090160 hasIssue "3" @default.
- W1496090160 hasLocation W14960901601 @default.
- W1496090160 hasOpenAccess W1496090160 @default.
- W1496090160 hasPrimaryLocation W14960901601 @default.
- W1496090160 hasRelatedWork W1525941160 @default.
- W1496090160 hasRelatedWork W163844512 @default.
- W1496090160 hasRelatedWork W1887557950 @default.
- W1496090160 hasRelatedWork W2081821936 @default.
- W1496090160 hasRelatedWork W2125552045 @default.
- W1496090160 hasRelatedWork W2385541432 @default.
- W1496090160 hasRelatedWork W3122541099 @default.
- W1496090160 hasRelatedWork W3123203022 @default.
- W1496090160 hasRelatedWork W3160655129 @default.
- W1496090160 hasRelatedWork W32674315 @default.
- W1496090160 hasVolume "23" @default.
- W1496090160 isParatext "false" @default.
- W1496090160 isRetracted "false" @default.
- W1496090160 magId "1496090160" @default.
- W1496090160 workType "article" @default.