The Quadratic Oil Extraction Oligopoly
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.
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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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