A rationalization of ups and downs of oil prices by sluggish demand, uncertainty, and nonconcavity

DOI10.1111/NRM.12025MaRDI QIDQ6550385zbMATH OpenFDO

Authors Franz Wirl, Sebastian Caban

Publication date 5 June 2024

Published in Natural Resource Modeling (Search for Journal in Brave)

zbMATH Keywords

dynamicstochasticmonopolyoil pricesconvex demand

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Microeconomic theory (price theory and economic markets) (91B24)

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Cites work

• scientific article; zbMATH DE number 1241609 (Why is no real title available?)
• scientific article; zbMATH DE number 1873658 (Why is no real title available?)
• Cartel instability and periodic price shocks
• Controlled stochastic differential equations under Poisson uncertainty and with unbounded utility
• Investment under uncertainty: calculating the value function when the Bellman equation cannot be solved analytically
• Projection methods for solving aggregate growth models
• Reversible stopping (``switching) implies super contact

Cited in

(1)

• Dynamic demand and noncompetitive intertemporal output adjustments: correction and extension

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