Energy policy and oil prices : system dynamics approach to modeling oil market

dc.contributor.authorSamii, Massood
dc.contributor.authorTeekasap, Pard
dc.descriptionVersion of Recorden_US
dc.descriptionA version of this paper was presented in the 2nd Annual International Conference on Global Commerce, Las Vegas, NV during October 22-24, 2009.en_US
dc.description.abstractThe pattern of global oil demand, real oil price, and world economy in the future is studied through system dynamics modeling. Based on the simulation, the oil demand will drop and then gradually recover while the real oil price will be stable and then drop mimicking a sigmoid curve. The economy will continuously increase. If an economic stimulus policy is implemented, the oil demand is expected to have a shallower drop. Thus, the real oil price is likely to be an S-shaped curve with a higher value, and the economy is expected to grow faster as compared to the case when there is no stimulus policy.en_US
dc.description.bibliographicCitationSamii, M., & Teekasap, P. (2010). Energy policy and oil prices: System dynamics approach to modeling oil market. Journal of Global Commerce Research 2(3): 1-7.en_US
dc.format.extent401770 bytesen_US
dc.publisherGlobal Commerce Forumen_US
dc.relation.requiresAdobe Acrobat Readeren_US
dc.rightsPublisher retains all ownership rights. Further reproduction in violation of copyright is prohibiteden_US
dc.subject.otheroil pricesen_US
dc.subject.otherenergy pricesen_US
dc.subject.otheroil market modelsen_US
dc.titleEnergy policy and oil prices : system dynamics approach to modeling oil marketen_US
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