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Monopoly extraction of a nonrenewable resource facing capacity constrained renewable competition

  • Wang, Min
  • Zhao, Jinhua

This paper studies monopoly extraction of a nonrenewable resource with the presence of a competitively supplied capacity constrained renewable substitute. The monopolist staves off the renewable supply when the latter becomes competitive and then lets the resource price jump up.

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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 120 (2013)
Issue (Month): 3 ()
Pages: 503-508

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Handle: RePEc:eee:ecolet:v:120:y:2013:i:3:p:503-508
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Groot, Fons & Withagen, Cees & de Zeeuw, Aart, 2003. "Strong time-consistency in the cartel-versus-fringe model," Journal of Economic Dynamics and Control, Elsevier, vol. 28(2), pages 287-306, November.
  2. Ujjayant Chakravorty & Michel Moreaux & Mabel Tidball, 2008. "Ordering the Extraction of Polluting Nonrenewable Resources," American Economic Review, American Economic Association, vol. 98(3), pages 1128-44, June.
  3. Chakravorty, Ujjayant & Magné, Bertrand & Moreaux, Michel, 2005. "A Hotelling Model with a Ceiling on the Stock of Pollution," IDEI Working Papers 368, Institut d'Économie Industrielle (IDEI), Toulouse.
  4. Gaudet, Gerard & Moreaux, Michel & Salant, Stephen W., 2002. "Private Storage of Common Property," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 280-302, March.
  5. Dasgupta, Partha & Gilbert, Richard J & Stiglitz, Joseph E, 1982. "Invention and Innovation under Alternative Market Structures: The Case of Natural Resources," Review of Economic Studies, Wiley Blackwell, vol. 49(4), pages 567-82, October.
  6. Amigues, Jean-Pierre & Favard, Pascal & Gaudet, Gerard & Moreaux, Michel, 1998. "On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute Is Limited," Journal of Economic Theory, Elsevier, vol. 80(1), pages 153-170, May.
  7. John Hartwick, 1975. "Exploitation of Many Deposits of an Exhaustible Resource," Working Papers 182, Queen's University, Department of Economics.
  8. repec:ner:tilbur:urn:nbn:nl:ui:12-377500 is not listed on IDEAS
  9. repec:ner:tilbur:urn:nbn:nl:ui:12-117032 is not listed on IDEAS
  10. Hoel, Michael, 1978. "Resource extraction, substitute production, and monopoly," Journal of Economic Theory, Elsevier, vol. 19(1), pages 28-37, October.
  11. Holland, Stephen P., 2003. "Extraction capacity and the optimal order of extraction," Journal of Environmental Economics and Management, Elsevier, vol. 45(3), pages 569-588, May.
  12. Dasgupta, Partha & Gilbert, Richard & Stiglitz, Joseph, 1983. "Strategic Considerations in Invention and Innovation: The Case of Natural Resources," Econometrica, Econometric Society, vol. 51(5), pages 1439-48, September.
  13. Groot, Fons & Withagen, Cees & de Zeeuw, Aart, 1992. "Note on the Open-Loop von Stackelberg Equilibrium in the Cartel versus Fringe Model," Economic Journal, Royal Economic Society, vol. 102(415), pages 1478-84, November.
  14. Hoel, Michael, 1983. "Monopoly resource extractions under the presence of predetermined substitute production," Journal of Economic Theory, Elsevier, vol. 30(1), pages 201-212, June.
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