Khaled Kheiravar, University of California, Davis
A Structural Econometric Model of the Dynamic Game Between Petroleum Producers in the World Petroleum Market
Date and Location
Friday, April 28, 2017, 12:10 PM - 1:00 PM
ARE Conference Room, 2102
Social Sciences and Humanities
Abstract
In this paper, we develop and estimate a structural econometric model of the dynamic game among petroleum-producing firms in the world petroleum market. Our model allows firms that are at least partially state-owned to have objectives other than profit maximization alone. We use the structural econometric model to analyze the effects of changes in OPEC policy, the privatization of state-owned oil companies, production quotas, a ban on mergers, and demand shocks on the petroleum industry. Our modeling outcomes can be used to help inform decision-making and policy design. The results of our research will be of interest to academics, policy-makers, entrepreneurs, and business practitioners, including oil companies, alike. This model will also help petroleum firms better respond to government policies, and will help policy-makers better design sustainable energy policies.
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