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The Quadratic Oil Extraction Oligopoly

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  • Hartwick, John

Abstract

Each 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.

Suggested Citation

  • Hartwick, John, 2006. "The Quadratic Oil Extraction Oligopoly," Queen's Economics Department Working Papers 273571, Queen's University - Department of Economics.
    • Handle: RePEc:ags:quedwp:273571
    DOI: 10.22004/ag.econ.273571
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    References listed on IDEAS

    as
    1. Lozada, Gabriel A., 1993. "Existence and characterization of discrete-time equilibria in extractive industries," Resource and Energy Economics, Elsevier, vol. 15(3), pages 249-254, September.
    2. Mukesh Eswaran & Tracy Lewis, 1985. "Exhaustible Resources and Alternative Equilibrium Concepts," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 459-473, August.
    3. David Levhari & Leonard J. Mirman, 1980. "The Great Fish War: An Example Using a Dynamic Cournot-Nash Solution," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 322-334, Spring.
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