IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v66y1984i4p472-480..html
   My bibliography  Save this article

Bargaining, Strategic Reserves, and International Trade in Exhaustible Resources

Author

Listed:
  • Vincent P. Crawford
  • Joel Sobel
  • Ichiro Takahashi

Abstract

This paper proposes a framework for the analysis of optimal strategic reserve policy when ability to withstand embargoes influences terms of trade in an exhaustible resource like oil. The mode embodies two stylized facts: competitive forces are not always strong enough to eliminate other influences on the negotiated price of oil, and long-term contracts for oil delivery cannot be enforced across national boundaries. Some modeling issues that arise in this context are discussed, and a model of optimal strategic reserve policies is proposed and solved in a leading special case.

Suggested Citation

  • Vincent P. Crawford & Joel Sobel & Ichiro Takahashi, 1984. "Bargaining, Strategic Reserves, and International Trade in Exhaustible Resources," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(4), pages 472-480.
    • Handle: RePEc:oup:ajagec:v:66:y:1984:i:4:p:472-480.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1240926
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Teixeira, Aurora A.C. & Forte, Rosa & Assunção, Susana, 2017. "Do countries' endowments of non-renewable energy resources matter for FDI attraction? A panel data analysis of 125 countries over the period 1995–2012," International Economics, Elsevier, vol. 150(C), pages 57-71.
    2. Creti, Anna & Villeneuve, Bertrand, 2008. "Equilibrium Storage in a Markov Economy," MPRA Paper 11944, University Library of Munich, Germany.
    3. repec:dau:papers:123456789/5204 is not listed on IDEAS
    4. Anna Creti & Bertrand Villeneuve, 2013. "Commodity storage with durable shocks : A simple Markovian model," Post-Print hal-01517436, HAL.
    5. Chaton, Corinne & Creti, Anna & Villeneuve, Bertrand, 2009. "Storage and security of supply in the medium run," Resource and Energy Economics, Elsevier, vol. 31(1), pages 24-38, January.
    6. repec:dau:papers:123456789/2280 is not listed on IDEAS
    7. repec:dau:papers:123456789/4808 is not listed on IDEAS
    8. repec:dau:papers:123456789/5384 is not listed on IDEAS

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:66:y:1984:i:4:p:472-480.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.