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Structure – Performance Relationship in the Organization of Petroleum Exporting Countries (OPEC): Estimating the Degree of Implicit Collusion between OPEC members and OPEC’s Belief of non-OPEC
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Somayeh Azami *   1, Mojtaba Almasi , Mahin Sarouee |
| 1- , sazami_econ@yahoo.com |
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Abstract: (4597 Views) |
Abstract
Following the Structure-Conduct-Performance Paradigm (SCPP), we estimate “the extent of agreement amongst OPEC member countries” and “confidence of OPEC member countries in the behavior of non-members” for the period 1974 to 2012. Our study finds that the structure of OPEC explains its behavior. The linear and non-linear estimates of these parameters suggest that during this period OPEC has generally behaved in a manner consistent with Cournot Competition in the presence of a competitive fringe.
JEL Classification: D23, D40, L10, Q49 |
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| Keywords: structure – performance, OPEC, The Degree of Implicit Collusion, Conjectural Variations |
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Full-Text [PDF 398 kb]
(2715 Downloads)
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Type of Study: Research |
Subject:
Energy Economic
Received: 2014/12/26 | Accepted: 2016/06/20 | Published: 2016/06/21 | ePublished: 2016/06/21
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