THE CURSE OF WINDFALL GAINS IN A NON RENEWABLE RESOURCE OLIGOPOLY *

In this paper, we consider oligopolistic equilibria in subgame-perfect strategies in continuous time, and investigate the effect of stock discovery on the profits of non-identical natural resource oligopolists. We show that a uniform addition to all stocks does not necessarily increase the discounted sum of profits of all firms. Copyright Blackwell Publishing Ltd/University of Adelaide and Flinders University 2006..

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Year of publication:	2006
Authors:	BENCHEKROUN, HASSAN ; LONG, NGO VAN
Published in:	Australian Economic Papers. - Wiley Blackwell. - Vol. 45.2006, 2, p. 99-105
Publisher:	Wiley Blackwell

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005193190