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Author: John Asker Publisher: ISBN: Category : Languages : en Pages : 53
Book Description
This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency occurs through more production being allocated to higher-cost units of production, and less production to lower-cost production units, conditional on a fixed aggregate quantity. We rely on rich micro-data covering the global market for crude oil, from 1970 to 2014, to quantify the extent of productive misallocation attributable to market power exerted by the OPEC. We find substantial productive inefficiency attributable to market power, ranging from 14.1 percent to 21.9 percent of the total productive inefficiency, or 105 to 163 billion USD.
Author: John Asker Publisher: ISBN: Category : Languages : en Pages : 53
Book Description
This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency occurs through more production being allocated to higher-cost units of production, and less production to lower-cost production units, conditional on a fixed aggregate quantity. We rely on rich micro-data covering the global market for crude oil, from 1970 to 2014, to quantify the extent of productive misallocation attributable to market power exerted by the OPEC. We find substantial productive inefficiency attributable to market power, ranging from 14.1 percent to 21.9 percent of the total productive inefficiency, or 105 to 163 billion USD.
Author: Publisher: Elsevier ISBN: 0323915140 Category : Business & Economics Languages : en Pages : 788
Book Description
Handbook of Industrial Organization, Volume Four highlights new advances in the field, with this new volume presenting interesting chapters written by an international board of expert authors. Presents authoritative surveys and reviews of advances in theory and econometrics Reviews recent research on capital raising methods and institutions Includes discussions on developing countries
Author: United States. Congress. House. Committee on Science and Technology. Subcommittee on Domestic and International Scientific Planning, Analysis, and Cooperation Publisher: ISBN: Category : Technology transfer Languages : en Pages : 480
Author: United States. Congress. House. Committee on Government Operations. Environment, Energy, and Natural Resources Subcommittee Publisher: ISBN: Category : Energy policy Languages : en Pages : 256
Author: Richard B. McKenzie Publisher: University of Michigan Press ISBN: 0472901141 Category : Business & Economics Languages : en Pages : 554
Book Description
In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.
Author: Andrey Vavilov Publisher: Springer Nature ISBN: 3030767531 Category : Business & Economics Languages : en Pages : 314
Book Description
This book examines the economics of natural resource markets and pricing, as well as the field of natural resource economics in general. It presents the key contributions to this field of research, including the pioneering works and contemporary studies. The book highlights the basic principles and ideas underlying theoretical models of resource pricing. The models considered in the book underline the fundamental determinants of resource prices and the economic nature of rents for non-renewable and renewable resources. Besides the classical theory of exhaustible resource economics, the book includes several issues that are of high importance for global economic growth, such as the transition to alternative energy and the economics of climate change. The authors also consider the issues of commodity pricing and a resource cartel’s activity that are relevant to the world oil market. The book provides analytical solutions illustrated with numerical examples. It allows an intuitive understanding of the subject and the model inferences through graphical illustrations and an informal introduction. It, therefore, is a must-read for everybody interested in a better understanding of resource prices, resource markets, and resource economics.
Author: Robert Mabro Publisher: Oxford : Oxford University Press for the Oxford Institute for Energy Studies ISBN: Category : Business & Economics Languages : en Pages : 294
Book Description
This book includes papers presented at the Oxford Energy Seminar, 1982-5, and uses them to discuss aspects of OPEC's role in the world petroleum market.
Author: Siamack Shojai Publisher: Praeger ISBN: Category : Business & Economics Languages : en Pages : 288
Book Description
In the emerging post-Cold War new world order, the economics and politics of the oil industry will be quite different. New approaches and mechanisms are under way to deal with new challenges and old difficulties, such as environmental imperatives and the uncertainty of prices and availability. This edited volume provides an authoritative and comprehensive view of changing oil markets through informative discussions on global oil reserves, production and consumption trends, futures markets, refining, the political economy, and global environmental concerns. A very useful tool for researchers, scholars, and businesspeople in energy and environmental policy economics, political economics, economics of natural resources, and regional economics.
Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Fossil and Synthetic Fuels Publisher: ISBN: Category : Petroleum reserves Languages : en Pages : 356
Author: John Asker
Author: John Asker
Author: 
Author: United States. Congress. House. Committee on Science and Technology. Subcommittee on Domestic and International Scientific Planning, Analysis, and Cooperation
Author: United States. Congress. House. Committee on Government Operations. Environment, Energy, and Natural Resources Subcommittee
Author: Richard B. McKenzie
Author: Andrey Vavilov
Author: Robert Mabro
Author: Siamack Shojai
Author: John A. Sawyer
Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Fossil and Synthetic Fuels