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Strategies for OPEC's Pricing and Output Decisions

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  • Dermot Gately

Abstract

This paper examines OPEC pricing and output strategies, both to provide an understanding of OPEC's unwise price doubling in 1979-80 and also to analyze what strategy might serve it best for the future. We focus on the unavoidable uncertainty regarding the underlying parameters that characterize the world oil market (price elasticities, income growth rates), and the sensitivity of discounted OPEC revenue to changes in these parameters, for various pricing strategies.

Suggested Citation

  • Dermot Gately, 1995. "Strategies for OPEC's Pricing and Output Decisions," The Energy Journal, , vol. 16(3), pages 1-38, July.
    • Handle: RePEc:sae:enejou:v:16:y:1995:i:3:p:1-38
    DOI: 10.5547/ISSN0195-6574-EJ-Vol16-No3-1
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    References listed on IDEAS

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    2. John D. Sterman, 1989. "Modeling Managerial Behavior: Misperceptions of Feedback in a Dynamic Decision Making Experiment," Management Science, INFORMS, vol. 35(3), pages 321-339, March.
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