World oil market simulation

  • Nick Baldwin
  • Richard Prosser
Part of the International Studies in Economic Modelling book series (ISIM)


Most of the models used to analyse the world oil market can be categorized under two broad headings: (i) recursive simulation models and (ii) intertemporal optimization models.1 Both types assume that OPEC operates as a cartel, although the way in which OPEC behaviour is modelled varies.


Real Exchange Rate Mean Absolute Percentage Error Energy Information Administration North American Proven Reserve 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer Science+Business Media Dordrecht 1992

Authors and Affiliations

  • Nick Baldwin
  • Richard Prosser

There are no affiliations available

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