Duopoly in Exhaustible Resource Exploration and Extraction

John Hartwick and P. A. Sadorsky

Canadian Journal of Economics, 1990, vol. 23, issue 2, 276-93

Abstract: Strategic considerations of exploration and extraction are investigated in a two-player, two-period, two-stage perfect equilibrium framework. Relative to two "plant" monopoly, the duopolists explore more and extract more period by period. A mixed game in which there is cooperation "upstream" in exploration and Cournot competition "downstream" in quantities extracted is investigated. The authors also note that increasing returns to scale in exploration can introduce an unstable solution with a corner solution the presumed stable equilibrium.

Date: 1990
References: Add references at CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://links.jstor.org/sici?sici=0008-4085%2819900 ... REA%3E2.0.CO%3B2-%23 (text/html)
only available to JSTOR subscribers

Related works:
Working Paper: Duopoly in Exhaustible Resource Exploration and Extraction (1988)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cje:issued:v:23:y:1990:i:2:p:276-93

Ordering information: This journal article can be ordered from
https://www.economic ... ionen/membership.php

Access Statistics for this article

Canadian Journal of Economics is currently edited by Zhiqi Chen

More articles in Canadian Journal of Economics from Canadian Economics Association Canadian Economics Association Prof. Werrner Antweiler, Treasurer UBC Sauder School of Business 2053 Main Mall Vancouver, BC, V6T 1Z2. Contact information at EDIRC.
Bibliographic data for series maintained by Prof. Werner Antweiler ().