THE CURSE OF WINDFALL GAINS IN A NON RENEWABLE RESOURCE OLIGOPOLY*
Hassan Benchekroun () and
Australian Economic Papers, 2006, vol. 45, issue 2, 99-105
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.
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Working Paper: The Curse of Windfall Gains in a Non Renewable Resource Oligopoly (2006)
Working Paper: THE CURSE OF WINDFALL GAINS IN A NON RENEWABLE RESOURCE OLIGOPOLY (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ausecp:v:45:y:2006:i:2:p:99-105
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