PRICE MOVEMENTS IN RESOURCE MARKETS

Abstract

The bias of this chapter is much more empirical and institutional than that of its predecessors. We hope to use it to provide illustrations of the practical importance of some of the phenomena referred to in previous chapters: many of our illustrations will be drawn from the oil industry because this is both an important industry and one that provides a very wide range of examples. However, we shall also discuss the validity of our observations in a wider context.