OPEC and other commodity cartels: a comparison
The economic literature provides specific characteristics for cartels. Although the theory of international cartels is not well developed in the literature, and every cartel is unique, some of these characteristics exist in each cartel. This study investigates the existence of these characteristics...
Gespeichert in:
| Veröffentlicht in: | Energy policy 2000-12, Vol.28 (15), p.1151-1164 |
|---|---|
| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 1164 |
|---|---|
| container_issue | 15 |
| container_start_page | 1151 |
| container_title | Energy policy |
| container_volume | 28 |
| creator | Alhajji, A.F Huettner, David |
| description | The economic literature provides specific characteristics for cartels. Although the theory of international cartels is not well developed in the literature, and every cartel is unique, some of these characteristics exist in each cartel. This study investigates the existence of these characteristics in six known commodity cartels including OPEC. In addition, it compares the oil companies’ cartel, `the Seven Sisters', to OPEC, and summarizes the findings of OPEC econometric models developed in the literature in the last 25 years and concludes that the results do not support cartel or competitive models for OPEC. Although other cartels are more successful than OPEC, many books and articles in economics use OPEC as a cartel example. Neither statistical tests nor theory support the popular use of OPEC as a cartel example. Indeed, this article concludes that OPEC is composed of Saudi Arabia, the dominant world producer, plus several distinct sub-groups and that separate models are required to explain the behavior of each. Assigning the power of some OPEC members to OPEC has caused confusion about its behavior. Recent OPEC success is attributed to political, natural, and technical capacity limitations in the oil fields that prevented countries from cheating on their quota. In other words, OPEC adherence to the quota, except for Saudi Arabia, is anything but voluntary. |
| doi_str_mv | 10.1016/S0301-4215(00)00095-1 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_miscellaneous_59833103</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><els_id>S0301421500000951</els_id><sourcerecordid>38970835</sourcerecordid><originalsourceid>FETCH-LOGICAL-c578t-b8d95cf006a0540b0c289f4174c5ab926582cbbebcaaf96bb486722801d853523</originalsourceid><addsrcrecordid>eNqFkVtr3DAQhUVpodttfkLBJFCaB6czuthSX0JZcoOUBNo-C1mWiYJtuZI3sP8-cjbsQ18ikEaI7xxmjgj5gnCGgNX338AAS05RfAM4BQAlSnxHVihrVlZ1Xb8nqwPykXxK6TFDXCq-Imd39xebwoxtEeYHFwsbhiG0ft4V1sTZ9elHYZbHyUSfwviZfOhMn9zRa12Tv5cXfzbX5e3d1c3m521pRS3nspGtErYDqAwIDg1YKlXHseZWmEbRSkhqm8Y11phOVU3DZVVTKgFbKZigbE2-7n2nGP5tXZr14JN1fW9GF7ZJCyUZQ2BvgkyqGiQTGTz-D3wM2zjmITQFwVjFOWZI7CEbQ0rRdXqKfjBxpxH0krV-yVovQWoA_ZK1XnS_9rroJmcPIpfX6KbQ6yfNDJX52C2XLMvF551tmJmWCwrUiBXXD_OQ_U5emzXJmr6LZrQ-HXwlqmX-NTnfU_mb3JN3USfr3Whd66Ozs26Df6PvZzicqNk</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>205336441</pqid></control><display><type>article</type><title>OPEC and other commodity cartels: a comparison</title><source>RePEc</source><source>PAIS Index</source><source>Elsevier ScienceDirect Journals</source><creator>Alhajji, A.F ; Huettner, David</creator><creatorcontrib>Alhajji, A.F ; Huettner, David</creatorcontrib><description>The economic literature provides specific characteristics for cartels. Although the theory of international cartels is not well developed in the literature, and every cartel is unique, some of these characteristics exist in each cartel. This study investigates the existence of these characteristics in six known commodity cartels including OPEC. In addition, it compares the oil companies’ cartel, `the Seven Sisters', to OPEC, and summarizes the findings of OPEC econometric models developed in the literature in the last 25 years and concludes that the results do not support cartel or competitive models for OPEC. Although other cartels are more successful than OPEC, many books and articles in economics use OPEC as a cartel example. Neither statistical tests nor theory support the popular use of OPEC as a cartel example. Indeed, this article concludes that OPEC is composed of Saudi Arabia, the dominant world producer, plus several distinct sub-groups and that separate models are required to explain the behavior of each. Assigning the power of some OPEC members to OPEC has caused confusion about its behavior. Recent OPEC success is attributed to political, natural, and technical capacity limitations in the oil fields that prevented countries from cheating on their quota. In other words, OPEC adherence to the quota, except for Saudi Arabia, is anything but voluntary.</description><identifier>ISSN: 0301-4215</identifier><identifier>EISSN: 1873-6777</identifier><identifier>DOI: 10.1016/S0301-4215(00)00095-1</identifier><identifier>CODEN: ENPYAC</identifier><language>eng</language><publisher>Oxford: Elsevier Ltd</publisher><subject>Applied sciences ; Cartel ; Cartels ; Commodities ; Comparative analysis ; Econometrics ; Economic data ; Economic models ; Economics ; Energy ; Energy economics ; Energy policy ; Energy sources ; Exact sciences and technology ; Export-import trade ; Fossil fuels and derived products ; General aspects ; General, economic and professional studies ; International ; International aspects ; Minerals ; Multinational enterprises ; Natural resources ; Oil ; Oil industry ; OPEC ; Organization of petroleum exporting countries ; Petroleum industry ; Prices ; Raw materials ; Resource management ; Studies</subject><ispartof>Energy policy, 2000-12, Vol.28 (15), p.1151-1164</ispartof><rights>2000 Elsevier Science B.V.</rights><rights>2001 INIST-CNRS</rights><rights>Copyright Elsevier Science Ltd. Dec 2000</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c578t-b8d95cf006a0540b0c289f4174c5ab926582cbbebcaaf96bb486722801d853523</citedby><cites>FETCH-LOGICAL-c578t-b8d95cf006a0540b0c289f4174c5ab926582cbbebcaaf96bb486722801d853523</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://dx.doi.org/10.1016/S0301-4215(00)00095-1$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>314,777,781,3537,3994,27846,27847,27905,27906,45976</link.rule.ids><backlink>$$Uhttp://pascal-francis.inist.fr/vibad/index.php?action=getRecordDetail&idt=819983$$DView record in Pascal Francis$$Hfree_for_read</backlink><backlink>$$Uhttp://econpapers.repec.org/article/eeeenepol/v_3a28_3ay_3a2000_3ai_3a15_3ap_3a1151-1164.htm$$DView record in RePEc$$Hfree_for_read</backlink></links><search><creatorcontrib>Alhajji, A.F</creatorcontrib><creatorcontrib>Huettner, David</creatorcontrib><title>OPEC and other commodity cartels: a comparison</title><title>Energy policy</title><description>The economic literature provides specific characteristics for cartels. Although the theory of international cartels is not well developed in the literature, and every cartel is unique, some of these characteristics exist in each cartel. This study investigates the existence of these characteristics in six known commodity cartels including OPEC. In addition, it compares the oil companies’ cartel, `the Seven Sisters', to OPEC, and summarizes the findings of OPEC econometric models developed in the literature in the last 25 years and concludes that the results do not support cartel or competitive models for OPEC. Although other cartels are more successful than OPEC, many books and articles in economics use OPEC as a cartel example. Neither statistical tests nor theory support the popular use of OPEC as a cartel example. Indeed, this article concludes that OPEC is composed of Saudi Arabia, the dominant world producer, plus several distinct sub-groups and that separate models are required to explain the behavior of each. Assigning the power of some OPEC members to OPEC has caused confusion about its behavior. Recent OPEC success is attributed to political, natural, and technical capacity limitations in the oil fields that prevented countries from cheating on their quota. In other words, OPEC adherence to the quota, except for Saudi Arabia, is anything but voluntary.</description><subject>Applied sciences</subject><subject>Cartel</subject><subject>Cartels</subject><subject>Commodities</subject><subject>Comparative analysis</subject><subject>Econometrics</subject><subject>Economic data</subject><subject>Economic models</subject><subject>Economics</subject><subject>Energy</subject><subject>Energy economics</subject><subject>Energy policy</subject><subject>Energy sources</subject><subject>Exact sciences and technology</subject><subject>Export-import trade</subject><subject>Fossil fuels and derived products</subject><subject>General aspects</subject><subject>General, economic and professional studies</subject><subject>International</subject><subject>International aspects</subject><subject>Minerals</subject><subject>Multinational enterprises</subject><subject>Natural resources</subject><subject>Oil</subject><subject>Oil industry</subject><subject>OPEC</subject><subject>Organization of petroleum exporting countries</subject><subject>Petroleum industry</subject><subject>Prices</subject><subject>Raw materials</subject><subject>Resource management</subject><subject>Studies</subject><issn>0301-4215</issn><issn>1873-6777</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2000</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><sourceid>7TQ</sourceid><recordid>eNqFkVtr3DAQhUVpodttfkLBJFCaB6czuthSX0JZcoOUBNo-C1mWiYJtuZI3sP8-cjbsQ18ikEaI7xxmjgj5gnCGgNX338AAS05RfAM4BQAlSnxHVihrVlZ1Xb8nqwPykXxK6TFDXCq-Imd39xebwoxtEeYHFwsbhiG0ft4V1sTZ9elHYZbHyUSfwviZfOhMn9zRa12Tv5cXfzbX5e3d1c3m521pRS3nspGtErYDqAwIDg1YKlXHseZWmEbRSkhqm8Y11phOVU3DZVVTKgFbKZigbE2-7n2nGP5tXZr14JN1fW9GF7ZJCyUZQ2BvgkyqGiQTGTz-D3wM2zjmITQFwVjFOWZI7CEbQ0rRdXqKfjBxpxH0krV-yVovQWoA_ZK1XnS_9rroJmcPIpfX6KbQ6yfNDJX52C2XLMvF551tmJmWCwrUiBXXD_OQ_U5emzXJmr6LZrQ-HXwlqmX-NTnfU_mb3JN3USfr3Whd66Ozs26Df6PvZzicqNk</recordid><startdate>20001201</startdate><enddate>20001201</enddate><creator>Alhajji, A.F</creator><creator>Huettner, David</creator><general>Elsevier Ltd</general><general>Elsevier</general><general>Elsevier Science Ltd</general><scope>IQODW</scope><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7SP</scope><scope>7TA</scope><scope>7TB</scope><scope>7TQ</scope><scope>8BJ</scope><scope>8FD</scope><scope>DHY</scope><scope>DON</scope><scope>F28</scope><scope>FQK</scope><scope>FR3</scope><scope>H8D</scope><scope>JBE</scope><scope>JG9</scope><scope>KR7</scope><scope>L7M</scope></search><sort><creationdate>20001201</creationdate><title>OPEC and other commodity cartels: a comparison</title><author>Alhajji, A.F ; Huettner, David</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c578t-b8d95cf006a0540b0c289f4174c5ab926582cbbebcaaf96bb486722801d853523</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2000</creationdate><topic>Applied sciences</topic><topic>Cartel</topic><topic>Cartels</topic><topic>Commodities</topic><topic>Comparative analysis</topic><topic>Econometrics</topic><topic>Economic data</topic><topic>Economic models</topic><topic>Economics</topic><topic>Energy</topic><topic>Energy economics</topic><topic>Energy policy</topic><topic>Energy sources</topic><topic>Exact sciences and technology</topic><topic>Export-import trade</topic><topic>Fossil fuels and derived products</topic><topic>General aspects</topic><topic>General, economic and professional studies</topic><topic>International</topic><topic>International aspects</topic><topic>Minerals</topic><topic>Multinational enterprises</topic><topic>Natural resources</topic><topic>Oil</topic><topic>Oil industry</topic><topic>OPEC</topic><topic>Organization of petroleum exporting countries</topic><topic>Petroleum industry</topic><topic>Prices</topic><topic>Raw materials</topic><topic>Resource management</topic><topic>Studies</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Alhajji, A.F</creatorcontrib><creatorcontrib>Huettner, David</creatorcontrib><collection>Pascal-Francis</collection><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>Electronics & Communications Abstracts</collection><collection>Materials Business File</collection><collection>Mechanical & Transportation Engineering Abstracts</collection><collection>PAIS Index</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>Technology Research Database</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><collection>ANTE: Abstracts in New Technology & Engineering</collection><collection>International Bibliography of the Social Sciences</collection><collection>Engineering Research Database</collection><collection>Aerospace Database</collection><collection>International Bibliography of the Social Sciences</collection><collection>Materials Research Database</collection><collection>Civil Engineering Abstracts</collection><collection>Advanced Technologies Database with Aerospace</collection><jtitle>Energy policy</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Alhajji, A.F</au><au>Huettner, David</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>OPEC and other commodity cartels: a comparison</atitle><jtitle>Energy policy</jtitle><date>2000-12-01</date><risdate>2000</risdate><volume>28</volume><issue>15</issue><spage>1151</spage><epage>1164</epage><pages>1151-1164</pages><issn>0301-4215</issn><eissn>1873-6777</eissn><coden>ENPYAC</coden><abstract>The economic literature provides specific characteristics for cartels. Although the theory of international cartels is not well developed in the literature, and every cartel is unique, some of these characteristics exist in each cartel. This study investigates the existence of these characteristics in six known commodity cartels including OPEC. In addition, it compares the oil companies’ cartel, `the Seven Sisters', to OPEC, and summarizes the findings of OPEC econometric models developed in the literature in the last 25 years and concludes that the results do not support cartel or competitive models for OPEC. Although other cartels are more successful than OPEC, many books and articles in economics use OPEC as a cartel example. Neither statistical tests nor theory support the popular use of OPEC as a cartel example. Indeed, this article concludes that OPEC is composed of Saudi Arabia, the dominant world producer, plus several distinct sub-groups and that separate models are required to explain the behavior of each. Assigning the power of some OPEC members to OPEC has caused confusion about its behavior. Recent OPEC success is attributed to political, natural, and technical capacity limitations in the oil fields that prevented countries from cheating on their quota. In other words, OPEC adherence to the quota, except for Saudi Arabia, is anything but voluntary.</abstract><cop>Oxford</cop><pub>Elsevier Ltd</pub><doi>10.1016/S0301-4215(00)00095-1</doi><tpages>14</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0301-4215 |
| ispartof | Energy policy, 2000-12, Vol.28 (15), p.1151-1164 |
| issn | 0301-4215 1873-6777 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_59833103 |
| source | RePEc; PAIS Index; Elsevier ScienceDirect Journals |
| subjects | Applied sciences Cartel Cartels Commodities Comparative analysis Econometrics Economic data Economic models Economics Energy Energy economics Energy policy Energy sources Exact sciences and technology Export-import trade Fossil fuels and derived products General aspects General, economic and professional studies International International aspects Minerals Multinational enterprises Natural resources Oil Oil industry OPEC Organization of petroleum exporting countries Petroleum industry Prices Raw materials Resource management Studies |
| title | OPEC and other commodity cartels: a comparison |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-17T16%3A58%3A56IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=OPEC%20and%20other%20commodity%20cartels:%20a%20comparison&rft.jtitle=Energy%20policy&rft.au=Alhajji,%20A.F&rft.date=2000-12-01&rft.volume=28&rft.issue=15&rft.spage=1151&rft.epage=1164&rft.pages=1151-1164&rft.issn=0301-4215&rft.eissn=1873-6777&rft.coden=ENPYAC&rft_id=info:doi/10.1016/S0301-4215(00)00095-1&rft_dat=%3Cproquest_cross%3E38970835%3C/proquest_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=205336441&rft_id=info:pmid/&rft_els_id=S0301421500000951&rfr_iscdi=true |