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The Curse Of Windfall Gains In A Non Renewable Resource Oligopoly

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Author Info
HASSAN BENCHEKROUN
NGO VAN LONG

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Abstract

In this paper, we consider oligopolistic equilibria in subgame-perfect strategies in continuous time, and investigate the effect of stock discovery on the profits of non-identical natural resource oligopolists. We show that a uniform addition to all stocks does not necessarily increase the discounted sum of profits of all firms. Copyright Blackwell Publishing Ltd/University of Adelaide and Flinders University 2006..

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File URL: http://www.blackwell-synergy.com/links/doi/10.1111/j.1467-8454.2006.00280.x
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Article provided by Blackwell Publishing in its journal Australian Economic Papers.

Volume (Year): 45 (2006)
Issue (Month): 2 (06)
Pages: 99-105
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Handle: RePEc:bla:ausecp:v:45:y:2006:i:2:p:99-105

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Benhabib, Jess & Radner, Roy, 1992. "The Joint Exploitation of a Productive Asset: A Game-Theoretic Approach," Economic Theory, Springer, vol. 2(2), pages 155-90, April.
  2. Benchekroun, Hassan, 2003. "Unilateral production restrictions in a dynamic duopoly," Journal of Economic Theory, Elsevier, vol. 111(2), pages 214-239, August. [Downloadable!] (restricted)
  3. Benchekroun, Hassan & Van Long, Ngo, 2002. "Transboundary Fishery: A Differential Game Model," Economica, London School of Economics and Political Science, vol. 69(274), pages 207-21, May. [Downloadable!] (restricted)
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Cited by:
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  1. John Hartwick, 2006. "The Quadratic Oil Extraction Oligopoly," Working Papers 1095, Queen's University, Department of Economics. [Downloadable!]
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This page was last updated on 2009-10-25.


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