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A class of short-term models for the oil industry addressing speculative storage

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Date
2020
Publisher city
Paris
Publisher
Cahier de recherche CEREMADE, Université Paris-Dauphine
Publishing date
03-2020
Link to item file
https://hal.archives-ouvertes.fr/hal-02517860
Dewey
Analyse
Sujet
oïl industry; short term models
URI
https://basepub.dauphine.fr/handle/123456789/20601
Collections
  • CEREMADE : Publications
Metadata
Show full item record
Author
Achdou, Yves
542019 Laboratoire Jacques-Louis Lions [LJLL (UMR_7598)]
Bertucci, Charles
89626 Centre de Mathématiques Appliquées - Ecole Polytechnique [CMAP]
Lasry, Jean-Michel
60 CEntre de REcherches en MAthématiques de la DEcision [CEREMADE]
Lions, Pierre-Louis
status unknown
Rostand, Antoine
Scheinkman, José
193946 Department of Economics
Type
Document de travail / Working paper
Item number of pages
22
Abstract (EN)
The aim is to propose a plausible mechanism for the short term dynamics of the oil market based on the interaction of economic agents. This is a theoretical research which by no means aim at describing all the aspects of the oil market. In particular, we use the tools and terminology of game theory, but we do not claim that this game actually exists in the real world. In parallel, we are currently studying and calibrating a long term model for the oil industry, which addresses the interactions of a monopolists with a competitive fringe of small producers. It is the object of another paper that will be available soon. The present premiminary version does not contain all the economic arguments and all the connections with our long term model. It mostly addresses the description of the model, the equations and numerical simulations focused on the oil industry short term dynamics.

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