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Dynamic Nash game model of oil market disruptions and strategic stockpiling

Technical Report ·
OSTI ID:5319223
; ;
In this paper we present and analyze a Nash dynamic game model for invstigating public and private-sector oil inventory policies in unstable world oil markets. Conceptual results about the model include simple, verifiable conditions for uniqueness and stability of solutions, along with characterizations of optimal policies. We also present results and discuss computational issues that arise in determining ''subgame perfect'' infinite-horizon equilibria, using a steady-state policy iteration approach. 15 refs., 2 figs.
Research Organization:
Resources for the Future, Inc., Washington, DC (USA)
DOE Contract Number:
AC01-80PE70267
OSTI ID:
5319223
Report Number(s):
DOE/PE/70267-T22; ON: DE85016783
Country of Publication:
United States
Language:
English

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Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290100 -- Energy Planning & Policy-- Energy Analysis & Modeling
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
294002* -- Energy Planning & Policy-- Petroleum
ENERGY SOURCES
FOSSIL FUELS
FUELS
GAME THEORY
INVENTORIES
MARKET
MATHEMATICAL MODELS
MATHEMATICS
PETROLEUM
STATISTICS
STOCKPILES
SUPPLY DISRUPTION