The Quadratic Oil Extraction Oligopoly

John M. Hartwick

No 1095, Working Papers from Queen's University, Department of Economics

Abstract: Each extractor has a distinct quadratic extraction cost and faces a linear industry demand schedule. We observe that the open loop and closed loop solutions are the same if initial stocks are such that each competitor is extracting in every period in which her competitors are extracting.

Keywords: oligopoly extractors; closed loop solution (search for similar items in EconPapers)
JEL-codes: D43 Q32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene, nep-ind and nep-mic
Date: Written
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http://www.econ.queensu.ca/working_papers/papers/qed_wp_1095.pdf First version 2006 (application/pdf)

Related works:
Journal Article: The quadratic oil extraction oligopoly (2008)
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