Insights from a Simple Hotelling Model of the World Oil Market
نویسندگان
چکیده
منابع مشابه
Insights from a Simple Hotelling Model of the World Oil Market
This paper uses annual data on world oil price and consumption from 1965 to 2006 to calibrate a Hotelling model of optimal nonrenewable resource extraction. Numerical solutions are generated for various specifications of the elasticity of demand for both isoelastic demand and linear demand under each of two possible market structures: perfect competition and monopoly. Prior to the 1973 oil cris...
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ژورنال
عنوان ژورنال: Natural Resources Research
سال: 2008
ISSN: 1520-7439,1573-8981
DOI: 10.1007/s11053-008-9085-6