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The quadratic oil extraction oligopoly

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Author Info
Hartwick, John M.
Brolley, Michael

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Abstract

Each extractor has a distinct initial endowment of oil and a distinct quadratic extraction cost and faces a linear industry demand schedule. We observe in a discrete-time model with a finite number of periods that the open loop and closed loop solutions are the same if initial stocks are such that each competitor is extracting in every period in which her competitors are extracting.

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File URL: http://www.sciencedirect.com/science/article/B6VFJ-4SHMCF7-1/2/8f9918392ce591a01a91808d4c09bd81
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Publisher Info
Article provided by Elsevier in its journal Resource and Energy Economics.

Volume (Year): 30 (2008)
Issue (Month): 4 (December)
Pages: 568-577
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Handle: RePEc:eee:resene:v:30:y:2008:i:4:p:568-577

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Web page: http://www.elsevier.com/locate/inca/505569

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Related research
Keywords: Oligopoly extractors Closed loop solution;

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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. Mukesh Eswaran & Tracy Lewis, 1985. "Exhaustible Resources and Alternative Equilibrium Concepts," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 459-73, August. [Downloadable!] (restricted)
  2. David Levhari & Leonard J. Mirman, 1980. "The Great Fish War: An Example Using a Dynamic Cournot-Nash Solution," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 322-334, Spring. [Downloadable!] (restricted)
  3. Lozada, Gabriel A., 1993. "Existence and characterization of discrete-time equilibria in extractive industries," Resource and Energy Economics, Elsevier, vol. 15(3), pages 249-254, September. [Downloadable!] (restricted)
  4. Hassan Benchekroun & Ngo Van Long, 2006. "The Curse Of Windfall Gains In A Non Renewable Resource Oligopoly ," Australian Economic Papers, Blackwell Publishing, vol. 45(2), pages 99-105, 06. [Downloadable!] (restricted)
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