id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
work_fibzcqecsncn7dj7mt6syhiv4e	Harri Ramcharran	OPEC's production under fluctuating oil prices: further test of the target revenue theory	2001	3	.pdf	application/pdf	920	97	71	OPEC's production under fluctuating oil prices: further test of the target revenue theory OPEC's production under fluctuating oil Oil production cutbacks in recent years by OPEC members to stabilize price and to Ž .increase revenues warrant further empirical verification of the target revenue theory TRT . Ž .We estimate a modified version of Griffin 1985 target revenue model using data from 1973 Keywords: Oil production; Target revenue theory; Competitive model Soaring crude oil prices resulting from OPEC's decisions during the 1970s aimed to explain energy pricing and production behavior. Ž .The target revenue theory TRT , developed by Ezzati 1976 , Cremer and oil pricing and production. estimates an empirical model of the TRT for OPEC with data for the period 1971�1983, a period of rapid price increase and finds little support of the theory. in the series of production cutbacks, OPEC has been able to boost the price of	./cache/work_fibzcqecsncn7dj7mt6syhiv4e.pdf	./txt/work_fibzcqecsncn7dj7mt6syhiv4e.txt