The Quadratic Oil Extraction Oligopoly
AbstractEach 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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Bibliographic InfoPaper provided by Queen's University, Department of Economics in its series Working Papers with number 1095.
Length: 20 pages
Date of creation: Sep 2006
Date of revision:
oligopoly extractors; closed loop solution;
Other versions of this item:
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-11-12 (All new papers)
- NEP-ENE-2006-11-12 (Energy Economics)
- NEP-IND-2006-11-12 (Industrial Organization)
- NEP-MIC-2006-11-12 (Microeconomics)
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.:
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- Hassan Benchekroun & Cees Withagen, 2010. "On Price Taking Behavior In A Nonrenewable Resource Cartel-Fringe Game," Departmental Working Papers 2010-02, McGill University, Department of Economics.
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