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Costs and Benefits of Residential Time-of-Use Metering

David Huettner, Jack Kasulis, and Neil Dikeman

Year: 1982
Volume: Volume 3
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol3-No3-6
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Abstract:
During the past few years interest in time-of-day (TOD) pricing has grown in the electric utility industry. Federal regulations, par-ticularly the Public Utility Regulatory Policy Act (PURPA), plant licensing problems, and the extremely high cost of new utility plants along with regulatory commission unwillingness to pass on higher costs to consumers have all played a part in this process. As the results of various TOD experiments have become available, interest has naturally turned to assessing costs and benefits.



The Target Revenue Model and the World Oil Market: Empirical Evidence from 1971 to 1994

A.F. Alhajji and David Huettner

Year: 2000
Volume: Volume21
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol21-No2-6
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Abstract:
This study draws on other studies that concluded OPEC is not a cartel and Saudi Arabia acts as a dominant producer in the world oil market. The intention here is to see whether the Target Revenue (TR) model provides an explanation for the behavior of some OPEC members that do not coordinate production with Saudi Arabia. We investigate whether production cuts or increases by OPEC and non OPEC members are based on their investment or budgetary needs. By retesting the TR model, we show that investment and budgetary needs do not affect the production of oil in free-market economies (OPEC and non-OPEC), but they do affect production decisions of the more centrally-planned, isolated and oil dependent economies. Existing studies in the literature have conceptual and statistical limitations that justify retesting the model. This study is the first to investigate the TR model in a separate study and to compare the results of static and dynamic models. It is also the first to examine the relationship between the degree of economic freedom and the Target Revenue model and to note the TR model is stable when used for countries that are price takers.



OPEC and World Crude Oil Markets from 1973 to 1994: Cartel, Oligopoly, or Competitive?

A.F Alhajji and David Huettner

Year: 2000
Volume: Volume21
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol21-No3-2
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Abstract:
This study investigates the existence of a dominant producer in the world crude oil market for the period 1973 to 1994. Contrary to the literature, the results show that neither OPEC nor the OPEC core can be characterized as a dominant producer. Using statistical tests, we also investigate whether OPEC, the OPEC core, or Saudi Arabia fit the competitive model or the Cournot model, The statistical results reject all models except the dominant firm model for Saudi Arabia. New user cost estimates are introduced and included in the models. Ail alternative explanation of high OPEC profits in the 1973-82 period is also developed as part of a statistical test of the effect of the US oil price regulation on world oil demand and supply. An estimate of the wealth transfer from price regulation is also calculated.





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