Wan, Rui; Boyce, John R. - In: Resource and Energy Economics 37 (2014) C, pp. 102-121
The market structure for many mineral industries can be described as oligopoly with potential for Stackelberg leadership. This paper derives and analyzes dynamically consistent extraction equilibria in a two-period discrete-time “Truly” Stackelberg (TS) model of non-renewable resource...