( The Endgame of Current Global Battle Over Oil Prices)
This is the tittle of my paper.
and my thesis is based on Rational Expectation Theory. that if each player has access to a very valuable but unstable commodity, the player who chooses to diversify his assets (even if he is reducing his income when prices are highest for that commodity).
It seems pretty obvious though that reducing variance is better than high-variance. But it is not clear Nash Equilibrium because the most players do no follow this strategy because of basic human nature, greed, short-sightedness, and disagreement on the correct course. For Example, Qaddafi, the former leader of Lydia, was an economic player who clearly did not understand the Nash equilibrium.
please use these sources and I want you to include the websites in the footnote.
1- Pubic Choice Consepts Application in Law ( Todd J.Zwicki ) – use this book for the Game Theory part
2- The Prize ( Daniel Yergin). use it for the most of the paper because it is talking about the most of my outline.
https://www.npr.org/templates/transcript/transcript.php?storyId=477046275
https://www.api.org/about#tab_history
GAME THEORY
https://www.opec.org/opec_web/en/about_us/25.htm
MEMBERS
Future
https://www.npr.org/2016/05/08/477046275/is-american-oil-dead-t-boone-pickens-says-yes-but-only-for-now
Info
https://pictorial-guide-to-energy.blogspot.com/2015/05/futurization-and-fracking.html (FT article for citation)
One of these sources has a graph and I want you to use it and change the country, make a comparing between US and Saudi Arabia.
I hope this clear enough for you and please contact me whenever you have a question. Because I am out of the US and the time is different.
I will send my outline for you
Thank you for understanding.
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