DYNAMIC DEMAND AND OPTIMAL OPEC PRICING - AN EMPIRICAL-INVESTIGATION

被引：7
|
作者：
WIRL, F
机构：
[1] Institut für Energiewirtschaft, Technische Universität Wien, A-1040 Wien
来源：
ENERGY ECONOMICS | 1990年 / 12卷 / 03期
关键词：
Oil; OPEC; Price strategy;
D O I：
10.1016/0140-9883(90)90028-E
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The demand for energy and in particular the demand for oil is very sluggish. Given this dynamic description of demand, a monopoly, or a dominant cartel, may either apply a volatile or a stable price policy in order to maximize profits. In particular, earlier works of Fromholzer and Wirl derive that the shape of the equilibrium demand function determines whether a price is stable or volatile. More precisely, a concave demand relation induces a smooth, and a convex relation leads to a volatile, strategy. This theory is empirically tested for the demand for OPEC oil. © 1990.
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页码：174 / 176
页数：3
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