Cartel-fringe models of the oil market: a quantitative assessment

A.N. Halsema, C.A.A.M. Withagen

Research output: Contribution to JournalArticleAcademicpeer-review


This paper provides a quantitative analysis of different equilibrium concepts employed in the literature on the cartel-fringe models. It is shown that small changes in parameter values can greatly affect outcomes due to changes in extraction schedules. Furthermore, it is shown that results of the closed-loop Stackelberg equilibrium are often closer to the results of the open-loop Nash equilibrium than to those of the open-loop Stackelberg equilibrium. Copyright © 2012 Inderscience Enterprises Ltd.
Original languageEnglish
Pages (from-to)60-82
JournalInternational Journal of Technology Management
Issue number1-2
Publication statusPublished - 2012


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