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Losses from competition in a dynamic game model of a renewable resource oligopoly

  • Kenji Fujiwara

    ()

    (Kwansei Gakuin University)

This paper develops a dynamic game model of an asymmetric oligopoly with a renewable resource to reconsider welfare effects of increases in the number of firms. We show that increasing not only the number of inefficient firms but also that of Efficient firms reduces welfare, which sharply contrasts to a static outcome. It is discussed that the closed-loop property of feedback strategies plays a decisive role in this finding.

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File URL: http://192.218.163.163/RePEc/pdf/kgdp51.pdf
File Function: First version, 2010
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Paper provided by School of Economics, Kwansei Gakuin University in its series Discussion Paper Series with number 51.

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Length: 18 pages
Date of creation: Apr 2010
Date of revision: Apr 2010
Handle: RePEc:kgu:wpaper:51
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  1. Shimomura, Koji, 1991. "The feedback equilibria of a differential game of capitalism," Journal of Economic Dynamics and Control, Elsevier, vol. 15(2), pages 317-338, April.
  2. Hassan Benchekroun & Ngo Van Long, 2006. "The Curse Of Windfall Gains In A Non Renewable Resource Oligopoly," Departmental Working Papers 2006-24, McGill University, Department of Economics.
  3. Erwin Bulte & Henk Folmer & Wim Heijman, 1995. "Open access, common property and scarcity rent in fisheries," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 6(4), pages 309-320, December.
  4. repec:cup:cbooks:9780521637329 is not listed on IDEAS
  5. Itaya, Jun-ichi & Shimomura, Koji, 2001. "A dynamic conjectural variations model in the private provision of public goods: a differential game approach," Journal of Public Economics, Elsevier, vol. 81(1), pages 153-172, July.
  6. Benchekroun, Hassan, 2008. "Comparative dynamics in a productive asset oligopoly," Journal of Economic Theory, Elsevier, vol. 138(1), pages 237-261, January.
  7. Dockner Engelbert J. & Van Long Ngo, 1993. "International Pollution Control: Cooperative versus Noncooperative Strategies," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 13-29, July.
  8. Ngo Van Long & Shengzu Wang, 2008. "Resource-Grabbing By Status-Conscious Agents," Departmental Working Papers 2008-08, McGill University, Department of Economics.
  9. James A. Brander & M. Scott Taylor, 1997. "International Trade and Open-Access Renewable Resources: The Small Open Economy Case," Canadian Journal of Economics, Canadian Economics Association, vol. 30(3), pages 526-52, August.
  10. Fershtman, Chaim & Kamien, Morton I, 1987. "Dynamic Duopolistic Competition with Sticky Prices," Econometrica, Econometric Society, vol. 55(5), pages 1151-64, September.
  11. Lahiri, Sajal & Ono, Yoshiyasu, 1988. "Helping Minor Firms Reduces Welfare," Economic Journal, Royal Economic Society, vol. 98(393), pages 1199-1202, December.
  12. Benchekroun, Hassan & Van Long, Ngo, 2002. "Transboundary Fishery: A Differential Game Model," Economica, London School of Economics and Political Science, vol. 69(274), pages 207-21, May.
  13. Rubio, Santiago J. & Casino, Begona, 2002. "A note on cooperative versus non-cooperative strategies in international pollution control," Resource and Energy Economics, Elsevier, vol. 24(3), pages 251-261, June.
  14. Tsutsui, Shunichi & Mino, Kazuo, 1990. "Nonlinear strategies in dynamic duopolistic competition with sticky prices," Journal of Economic Theory, Elsevier, vol. 52(1), pages 136-161, October.
  15. Benchekroun, Hassan, 2003. "Unilateral production restrictions in a dynamic duopoly," Journal of Economic Theory, Elsevier, vol. 111(2), pages 214-239, August.
  16. Tornell, Aaron & Velasco, Andes, 1992. "The Tragedy of the Commons and Economic Growth: Why Does Capital Flow from Poor to Rich Countries?," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1208-31, December.
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