Externalities, Market Power, and Resource Extraction

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Externalities, Market Power, and Resource Extraction

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Manjira Datta () (W. P. Carey School of Business Department of Economics)
Leonard Mirman (University of Virginia)

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Abstract

This paper analyzes the effect of market power in a model with dynamic and biological externalities. When several countries harvest fish in international waters the evolution of fish population is affected by their joint action, thus, generating a biological and a dynamic externality. If there is trade in fish, the market-clearing prices depend on the harvesting and consumption decision made in every country. Therefore, market-clearing prices generate another type of interdependence. The planners' make their policy decision by taking account of various externalities.We find a subgame perfect Cournot-Nash equilibrium and the conditions under which it may be efficient. We also study the role of different externalities in generating inefficiency.

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Paper provided by Department of Economics, W. P. Carey School of Business, Arizona State University in its series Working Papers with number 2132842.

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Handle: RePEc:asu:wpaper:2132842

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Article
- Datta, Manjira & Mirman, Leonard J., 1999. "Externalities, Market Power, and Resource Extraction," Journal of Environmental Economics and Management, Elsevier, vol. 37(3), pages 233-255, May. [Downloadable!] (restricted)
Paper
- Manjira Datta & Leonard J. Mirman, . "Externalities, Market Power, and Resource Extraction," Working Papers 97/12, Arizona State University, Department of Economics. [Downloadable!]

Find related papers by JEL classification:
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
D90 - Microeconomics - - Intertemporal Choice and Growth - - - General
F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies

This paper has been announced in the following NEP Reports:

NEP-ALL-2005-05-14 (All new papers)
NEP-COM-2005-05-14 (Industrial Competition)
NEP-ENV-2005-05-14 (Environmental Economics)
NEP-MIC-2005-05-14 (Microeconomics)

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.:

Manjira Datta, . "Externalities and Price Dynamics," Working Papers 9710, Arizona State University, Department of Economics. [Downloadable!]
Other versions:
- Datta, Manjira, 1997. "Externalities and Price Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(3), pages 587-603, August.

Full references

Cited by:
(explanations, 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.)

Klaus Reiner Schenk-Hoppé, . "Sample-Path Stability of Non-Stationary Dynamic Economic Systems," IEW - Working Papers iewwp046, Institute for Empirical Research in Economics - IEW. [Downloadable!]
Rabah Amir & Niels Nannerup, 2000. "Information Structure and the Tragedy of the Commons in Resource Extraction," Discussion Papers 00-09, University of Copenhagen. Department of Economics. [Downloadable!]
Other versions:
- AMIR, Rabah & NANNERUP, Niels, 2004. "Information structure and the tragedy of the commons in resource extraction," CORE Discussion Papers 2004040, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
- Rabah Amir & Niels Nannerup, 2006. "Information Structure and the Tragedy of the Commons in Resource Extraction," Journal of Bioeconomics, Springer, vol. 8(2), pages 147-165, August. [Downloadable!] (restricted)
Manjira Datta & Leonard Mirman & Olivier Morand & Kevin Reffett, . "Lattice Methods in Computation of Sequential Markov Equilibrium in Dynamic Games," Working Papers 2179545, Department of Economics, W. P. Carey School of Business, Arizona State University. [Downloadable!]

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This page was last updated on 2009-12-15.

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