Keywords:
Energy industries.
;
Power resources -- Economic aspects.
;
Supply and demand.
;
Energy policy.
;
Electronic books.
Type of Medium:
Online Resource
Pages:
1 online resource (180 pages)
Edition:
1st ed.
ISBN:
9781317361435
Series Statement:
Routledge Revivals Series
URL:
https://ebookcentral.proquest.com/lib/geomar/detail.action?docID=4014615
DDC:
333.7911
Language:
English
Note:
Cover -- Title -- Copyright -- Half Title -- Original Title -- Original Copyright -- Contents -- Foreword -- Preface -- 1 INTRODUCTION -- Characteristics of the Supply Process -- The Dynamics of Supply -- Individual Versus Market Behavior -- 2 THE BASIC THEORY OF SUPPLY BEHAVIOR -- Extraction from a Fixed Reserve -- The r Percent Rule -- Development and Discovery of New Reserves -- Behavioral Implications and Ambiguities -- Concluding Remarks -- Appendix -- 3 JOINT PRODUCTS, EXTERNALITIES, AND TECHNICAL CHANGE -- Joint Products -- Common Property Externalities -- Technical Progress -- Concluding Remarks -- 4 UNCERTAINTY, EXPECTATIONS, AND SUPPLY BEHAVIOR -- Modeling Expectations and Decisions Under Uncertainty -- Effects of Uncertainty -- Rational Expectations in Linear Supply Models -- Comer Solutions and Certainty Equivalence Bias -- Concluding Remarks -- Appendix -- 5 AGGREGATE SUPPLY AND MARKET BEHAVIOR -- Heterogeneity and Aggregation Problems -- Market Interactions -- Rational Expectations Market Equilibrium -- Price and Output Controls -- Noncompetitive Markets -- Concluding Remarks -- 6 EMPIRICAL METHODS AND PROBLEMS -- Empirical Pitfalls and Their Implications -- Petroleum Supply Data -- Characteristics of Petroleum Supply Models -- Concluding Remarks -- 7 SUMMARY AND RESEARCH SUGGESTIONS -- Directions for Further Research -- Final Comment -- References -- Index.
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