چكيده لاتين :
This study estimates three hypotheses of OPEC behavior:
market-sharing, target revenue and competitive model for the
period 1980 to 2000 for all OPEC courtiers except Iraq. To
examine co-integration relation for oil production, we use ADF
test in OLS estimation. Also we use ARDL approach to
examine these hypotheses and the long run relationship of
them. Results indicate none of three hypotheses fit completely
with OPEC behavior; Market sharing model is consistent with
most of OPEC countries, but not for all; Saudi Arabia is
consistent with market sharing and price maker. Some of
estimations of Target revenue and Competitive models are
spurious, but among countries, which have statistically
significant estimations, none of them is consistent with
competitive model. All estimations of Target revenue model
with OLS to all OPEC countries are spurious except one
(behavior of Iran is consistent with partial target revenue) and
also the long run relationship of all estimations of Target
revenue model with ARDL to all OPEC countries are
meaningless except one (behavior of Qatar isnיt consistent with
target revenue model).
