A SURVEY ON THE PERFORMANCE OF CRUDE OIL MARKET SHARING THEORY IN THE OPEC MEMBERS BEHAVIOR

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DEHGHANI T.

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Journal: NAMEH-YE-MOFID Year:2007 | Volume:12 | Issue:1 (57 ECONOMICS) Page(s): 163-174

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Title

A SURVEY ON THE PERFORMANCE OF CRUDE OIL MARKET SHARING THEORY IN THE OPEC MEMBERS BEHAVIOR

Author(s)

DEHGHANI T. | Issue Writer Certificate

Keywords

PORTFOLIO MANAGEMENTQ2

EXPECTED PRESENT VALUEQ3

EFFICIENT FRONTIERQ3

DYNAMIC PROGRAMMING MODEL RISK TOLERANCEQ3

CERTAINTY EQUIVALENTQ3

PREFERENCE ANALYSISQ3

Abstract

OPEC members' collusion as a market sharing cartel is one of the most important theories was introduced by Adelman and then expanded by Griffin and many researchers have tested it in different periods. OPEC Crude oil supply management during 2000-2005, was adjusted after price decreasing in 1998 and 1999, is most successful period for members collusion. In this paper, considering Griffin model, it is tried to test it with simultaneous equations system during 2000(1)- 2005 (12). The results show that first; in general, OPEC members strongly have followed the market sharing model. Second, test of bi =1, Yi =0 for five countries, Iran, Indonesia, Algeria, Kuwait and Venezuela is not rejected, so these countries have been following constant market sharing behavior. Although, test of bi = 1,Yi ¹ 0 for four countries, Iraq, Qatar, United Arab Emirate and Saudi Arabia is not rejected, so these countries have been following relative market sharing behavior and the behavior of Nigeria and Libya don't reject the hypothesis bi >0, Yi ¹0, means the partial market sharing behavior.

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APA: Copy

DEHGHANI, T.. (2007). A SURVEY ON THE PERFORMANCE OF CRUDE OIL MARKET SHARING THEORY IN THE OPEC MEMBERS BEHAVIOR. NAMEH-YE-MOFID, 12(1 (57 ECONOMICS)), 163-174. SID. https://sid.ir/paper/3595/en

Vancouver: Copy

DEHGHANI T.. A SURVEY ON THE PERFORMANCE OF CRUDE OIL MARKET SHARING THEORY IN THE OPEC MEMBERS BEHAVIOR. NAMEH-YE-MOFID[Internet]. 2007;12(1 (57 ECONOMICS)):163-174. Available from: https://sid.ir/paper/3595/en

IEEE: Copy

T. DEHGHANI, “A SURVEY ON THE PERFORMANCE OF CRUDE OIL MARKET SHARING THEORY IN THE OPEC MEMBERS BEHAVIOR,” NAMEH-YE-MOFID, vol. 12, no. 1 (57 ECONOMICS), pp. 163–174, 2007, [Online]. Available: https://sid.ir/paper/3595/en

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