Duopoly can be more anti-competitive than monopoly
AbstractWe prove two results on feedback equilibria under dynamic renewable resource duopoly. The linear feedback output is smallest, which sharply contrasts to the existing literature where it is largest. Moreover, prices in two feedback equilibria are higher than under monopoly.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 101 (2008)
Issue (Month): 3 (December)
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Web page: http://www.elsevier.com/locate/ecolet
Dynamic duopoly Renewable resource Feedback strategies;
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