Producers, consumers, and multinationals : problems in analyzing a non-competitive market
Name
MIT-EL-77-038WP-04150400.pdf
Size
1.38 MB
Format
Adobe PDF
Checksum (MD5)
06f72be6a5f62b2931f7ff8058c43ab2
Author(s)
Adelman, Morris Albert
Date Issued
1977
Publisher
MIT Energy Laboratory
Series/Report no.
MIT-EL
77-038WP
Abstract
A paper written two years ago gave a general analysis of the current world oil market, indicating why the price had nothing to do
with real scarcity, but was set by a monopoly both vulnerable and very strong. The purpose is now t analyze the market more closely, with a view to making some predictions about future prices.
Non-competitive markets are notoriously hard to analyze, because we have no precise theory of small-group actions. Furthermore, the current cartel2 is very recent, and its great successes since the 1970 Libyan negotiations have been and still are a learning process. But we can at least identify the principal factors, and eliminate irrelevant or wrong
hypotheses.
Subjects
Petroleum industry and trade.
Trusts, Industrial.
Persistent DSpace Link
