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Oligopoly Extraction of a Common Property Natural Resource: The Importance of the Period of Commitment in Dynamic Games

✍ Scribed by Jennifer F. Reinganum and Nancy L. Stokey

Book ID
124162676
Publisher
John Wiley and Sons
Year
1985
Tongue
English
Weight
296 KB
Volume
26
Category
Article
ISSN
0020-6598

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✍ Hassan Benchekroun; GΓ©rard Gaudet πŸ“‚ Article πŸ“… 2003 πŸ› Elsevier Science 🌐 English βš– 154 KB

Static oligopoly analysis predicts that if a single ΓΏrm in Cournot equilibrium were to be forced to marginally contract its production, its proΓΏts would fall. On the other hand, if all the ΓΏrms were simultaneously forced to reduce their production, thus moving the industry towards monopoly output, e