E nergy analysts sometimes speak of oil’s “golden era,” that 100-year stretch between 1874 and 1974 when the real price was relatively stable within a range from $10 to $20 per barrel (BP, 2008) in 2007 dollars. Figure 1 shows that in recent decades, that stability has ended. In October 1973, several Arabic members of the Organization of the Petroleum Exporting Countries (OPEC) announced that i...

the paper examines industrial concentration in iranian food products and beverages industries using firm level data aggregated to the 4-digit isic industry level between 2002 and 2004. based on different concentration indices the average level of concentration has increased slightly for the period of study. the empirical results show that increase in the level of concentration is more likely in...

introduction: market power is an important factor affecting welfare. existence of market power on the purchase side reduces supplier welfare. however, existence of market power on the sales side reduces supplier welfare. some believe that the agricultural market structure is a monopoly. in fact, most of the agricultural products can be purchased by small firms and then delivered to consumers be...

In the age of globalization, it is natural that the stock market of each country is not independent form the other markets. In this case, collective behavior could be emerged form their dependency together. This article studies the collective behavior of a set of forty influential markets in the world economy with the aim of exploring a global financial structure that could be called world-stoc...