BENCHEKROUN, Hassan; WITHAGEN, Cees - Centre Interuniversitaire de Recherche en Économie … - 2010
We consider a nonrenewable resource game with one cartel and a set of fringe members. We show that (i) the outcomes of … the closed-loop and the open-loop nonrenewable resource game with the fringe members as price takers (the cartel … of the closed-loop Nash game does not coincide with the equilibrium outcome of the closed-loop cartel-fringe game. Thus …