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Is There an Optimal Strategic Oil Reserve for Each Country? A Study Based on the Game Theory

Yang, Junan and Cong, Ronggang LU (2014) In The Open Fuels & Energy Science Journal 7. p.69-72
Abstract
In generally, there is a phenomenon of “free rider” in the establishment of national oil reserves for different countries, which means that they have the tendency of underestimating the strategic oil reserves. This paper attempts to explain this phenomenon from the perspective of non-cooperative game theory. It also analyzes the establishment of strategic oil reserve among different countries based on the coalition game theory and presents the core solution for it. The results show that based on a certain constraint mechanism, it is feasible for different countries to establish their own suitable strategic oil reserves in theory and practice.
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
The Open Fuels & Energy Science Journal
volume
7
pages
69 - 72
publisher
Bentham Open
ISSN
1876-973X
DOI
10.2174/1876973X01407010069
language
English
LU publication?
yes
id
a1b33760-a9ba-41cf-a1a7-63c9fc0f4bf9 (old id 4889056)
date added to LUP
2015-02-05 13:49:04
date last changed
2016-04-16 00:48:07
@article{a1b33760-a9ba-41cf-a1a7-63c9fc0f4bf9,
  abstract     = {In generally, there is a phenomenon of “free rider” in the establishment of national oil reserves for different countries, which means that they have the tendency of underestimating the strategic oil reserves. This paper attempts to explain this phenomenon from the perspective of non-cooperative game theory. It also analyzes the establishment of strategic oil reserve among different countries based on the coalition game theory and presents the core solution for it. The results show that based on a certain constraint mechanism, it is feasible for different countries to establish their own suitable strategic oil reserves in theory and practice.},
  author       = {Yang, Junan and Cong, Ronggang},
  issn         = {1876-973X},
  language     = {eng},
  pages        = {69--72},
  publisher    = {Bentham Open},
  series       = {The Open Fuels & Energy Science Journal},
  title        = {Is There an Optimal Strategic Oil Reserve for Each Country? A Study Based on the Game Theory},
  url          = {http://dx.doi.org/10.2174/1876973X01407010069},
  volume       = {7},
  year         = {2014},
}