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On the profitability of production perturbations in a dynamic natural resource oligopoly

  • Benchekroun, Hassan
  • Gaudet, Gerard

Static oligopoly analysis predicts that if a single firm in Cournot equilibrium were to be constrained to contract its production marginally, its profits would fall. on the other hand, if all the firms were simultaneously constrained to reduce their productino, thus moving the industry towards monopoly output, each firm's profit would rise. We show that these very intuitive results may not hold in a dynamic oligopoly.

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File URL: http://www.sciencedirect.com/science/article/B6V85-453NPHH-1/2/2beca7071a1a16267d45d83e340cc13d
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Article provided by Elsevier in its journal Journal of Economic Dynamics and Control.

Volume (Year): 27 (2003)
Issue (Month): 7 (May)
Pages: 1237-1252

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Handle: RePEc:eee:dyncon:v:27:y:2003:i:7:p:1237-1252
Contact details of provider: Web page: http://www.elsevier.com/locate/jedc

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  1. Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 488-511, June.
  2. Gaudet, Gerard & Salant, Stephen W, 1991. "Increasing the Profits of a Subset of Firms in Oligopoly Models with Strategic Substitutes," American Economic Review, American Economic Association, vol. 81(3), pages 658-65, June.
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