Equilibrium path in oligopolistic market
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Ding Zhanwen; Tian Lixin; Yang Honglin
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Article
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2008
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Elsevier Science
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English
โ 243 KB
In this paper we study the oligopoly model of nonrenewable resource in which the unit production cost is variable and depends on the resource reserve level. We consider both the open-loop strategy and the closed-loop strategy of this dynamical differential game. For the case of linear cost function