The Quadratic Oil Extraction Oligopoly

John Hartwick

No 273571, Queen's Economics Department 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: Financial Economics; Land Economics/Use (search for similar items in EconPapers)
Pages: 22
Date: 2006-09
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Persistent link: https://EconPapers.repec.org/RePEc:ags:quedwp:273571

DOI: 10.22004/ag.econ.273571

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