Fracking, Renewables & Mean Field Games
Fracking, Renewables & Mean Field Games
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水力压裂、可再生能源
DOI：
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发表时间：
2015
期刊：
影响因子：
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通讯作者：
R. Sircar
中科院分区：
文献类型：
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作者：
Patrick Chan;R. Sircar
油价从2014年6月的每桶约110美元大幅下跌至2015年1月的不足50美元，凸显了不同能源之间竞争的重要性。事实上，价格持续下跌的主要原因是，在“水力压裂”技术创新的推动下，面对美国页岩油供应增加，欧佩克做出了不限制石油产量的战略决定。我们研究如何将连续时间古诺竞争（生产类似商品的企业通过设定数量相互竞争）分析为连续动态平均场博弈。在这种背景下，我们将说明传统石油生产商在面对替代能源的竞争时可能会如何以违反直觉的方式做出反应。
The dramatic decline in oil prices, from around $110 per barrel in June 2014 to less than $50 in January 2015, highlights the importance of competition between different energy sources. Indeed, the sustained price drop has been primarily attributed to OPEC’s strategic decision not to curb its oil production in the face of increased supply of shale oil in the US, spurred by the technological innovation of “fracking”. We study how continuous time Cournot competitions, in which firms producing similar goods compete with one another by setting quantities, can be analyzed as continuum dynamic mean field games. In this context, we illustrate how the traditional oil producers may react in counter-intuitive ways in face of competition from alternative energy sources.