This paper examines a dynamic game of exploitation of a common pool of some renewable asset by agents that sell the result of their exploitation on an oligopolistic market. A Markov Perfect Nash Equilibrium of the game is used to analyze the effects of a merger of a subset of the agents. We...

We consider a game between oligopolistic and fringe suppliers of fossil fuel from an exhaustible resource, and of producers of a renewable perfect substitute. Extraction costs are stock-dependent and strictly convex in the rate of extraction. We characterize the open-loop equilibrium...