Posts Tagged ‘oil prices’

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    OPEC and the Prisoners’ Dilemma

    Jun 10, 11 • 1083 Views • No Comments

    Faced with rising prices and pressure to increase production what should OPEC (the Organization of Petroleum Exporting Countries) do? They could not agree. Why? Maybe it’s the prisoners’ dilemma. Picture for a moment 2 (guilty) suspects....  [read more]