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The Quadratic Oil Extraction Oligopoly

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Author Info

  • John Hartwick

    ()
    (Queen's University)

Abstract

Each extractor has a distinct quadratic extraction cost and faces a linear industry demand schedule. We observe 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://qed.econ.queensu.ca/working_papers/papers/qed_wp_1095.pdf
File Function: First version 2006
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Bibliographic Info

Paper provided by Queen's University, Department of Economics in its series Working Papers with number 1095.

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Length: 20 pages
Date of creation: Sep 2006
Date of revision:
Handle: RePEc:qed:wpaper:1095

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Related research

Keywords: oligopoly extractors; closed loop solution;

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References

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  1. Hassan Benchekroun & Ngo Van Long, 2006. "The Curse Of Windfall Gains In A Non Renewable Resource Oligopoly ," Australian Economic Papers, Wiley Blackwell, vol. 45(2), pages 99-105, 06.
  2. 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.
  3. 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.
  4. 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.
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Cited by:
  1. Hassan Benchekroun & Cees Withagen, 2012. "On Price Taking Behaviour in a Non-renewable Resource Cartel-Fringe Game," OxCarre Working Papers 080, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  2. Hassan Benchekroun & Cees Withagen, 2008. "Nonrenewable Resource Oligopolies And The Cartel-Fringe Game," Departmental Working Papers 2008-02, McGill University, Department of Economics.

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