The quadratic oil extraction oligopoly
Each extractor has a distinct initial endowment of oil and a distinct quadratic extraction cost and faces a linear industry demand schedule. We observe in a discrete-time model with a finite number of periods 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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- Hassan Benchekroun & Ngo Van Long, 2006.
"The Curse Of Windfall Gains In A Non Renewable Resource Oligopoly ,"
Australian Economic Papers,
Wiley Blackwell, vol. 45(2), pages 99-105, 06.
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- Hassan Benchekroun & Ngo Van Long, 2006. "The Curse of Windfall Gains in a Non Renewable Resource Oligopoly," CIRANO Working Papers 2006s-10, CIRANO.
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