Testing the Hypothesis of Collusive Behavior Among OPEC Members

This paper presents a test to discriminate among behaviors of producers of exhaustible resources. The behavior of a competitive producer of an exhaustible resource should follow an Euler equation. The existence of futures markets allows us to sidestep the difficult issues related to estimating future prices and demand. This theoretical framework is used to test the hypothesis of collusive OPEC behavior between 1983 and 1991.

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Year of publication:	1995-11
Authors:	Spilimbergo, Antonio
Institutions:	Inter-American Development Bank

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Extent:	application/pdf
Series:	Research Department Publications.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 4016
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005342504