EXPLORATION FOR NONRENEWABLE RESOURCES IN A DYNAMIC OLIGOPOLY: AN ARROVIAN RESULT

Luca Lambertini ()

International Game Theory Review (IGTR), 2014, vol. 16, issue 02, 1-11

Abstract: The model proposed in this paper investigates a differential Cournot oligopoly game with nonrenewable resource exploitation, in which each firm may exploit either its own private pool or a common pool jointly with the rivals. Firms use a deterministic technology to invest in exploration activities. There emerges that (i) the individual exploration effort is higher when each firms has exclusive rights on a pool of its own, and (ii) depending on whether each firm has access to its own pool or all firms exploit a common one, the aggregate exploration effort is either increasing or constant in the number of firms.

Keywords: Differential games; natural resources; oligopoly; C73; L13; Q30 (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Exploration for Nonrenewable Resources in a Dynamic Oligopoly: An Arrovian Result (2013)
Working Paper: Exploration for Nonrenewable Resources in a Dynamic Oligopoly: An Arrovian Result (2013)
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DOI: 10.1142/S0219198914400118

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