Powell, Stephen G., "An Evaluation of Behavioral Simulation Models of OPEC", 1990

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Behavioral simulation models of OPEC have typically been built on the assumption that OPEC price changes are determined by capacity utilization. We evaluate this model by examining its empirical and behavioral justifications, and by observing how it performs in a simple world oil market model. We also briefly explore and evaluate alternative behavioral rules for OPEC.

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  • 1990
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