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The Quadratic Oil Extraction Oligopoly

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Author Info
John Hartwick () (Queen's University)

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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://www.econ.queensu.ca/working_papers/papers/qed_wp_1095.pdf
File Format: application/pdf
File Function: First version 2006
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Publisher 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;

Other versions of this item:

Find related papers by JEL classification:
D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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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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