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

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Listed author(s):
  • Benchekroun, Hassan
  • Gaudet, Gerard

Abstract

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/pii/S0165-1889(02)00023-4
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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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Find related papers by JEL classification:
  • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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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 658-665, June.
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Cited by:

  1. Caputo, Michael R., 2007. "The envelope theorem for locally differentiable Nash equilibria of finite horizon differential games," Games and Economic Behavior, Elsevier, vol. 61(2), pages 198-224, November.
  2. Jinji, Naoto, 2014. "Comparative statics for oligopoly: A generalized result," Economics Letters, Elsevier, vol. 124(1), pages 79-82.
  3. Gerhard Sorger, 2005. "A dynamic common property resource problem with amenity value and extraction costs," International Journal of Economic Theory, The International Society for Economic Theory, vol. 1(1), pages 3-19.
  4. Ngo Long, 2015. "Dynamic Games Between Firms and Infinitely Lived Consumers: A Review of the Literature," Dynamic Games and Applications, Springer, vol. 5(4), pages 467-492, December.
  5. Gérard Gaudet, 2007. "Natural resource economics under the rule of Hotelling," Canadian Journal of Economics, Canadian Economics Association, vol. 40(4), pages 1033-1059, November.

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