On Comparing Monopoly and Competition in Exhaustible Resource Exploitation
Gérard Gaudet () and
Cahiers de recherche from Universite de Montreal, Departement de sciences economiques
It Is Widely Believed That Exhaustible Resource Monopolies Do Not Enjoy As Much Market Power As Standard Non Resource Monopolies, and May Even Produce in a Socially Optimum Way. We Argue That This Paradoxical Result Arises From an Inappropriate Comparison Methodology. When Similar Assumptions Are Applied to the Resource, and the Conventional, Cases, We Show That the Resource Monopoly Behaves As Expected, I.E. Restricts Supply.
Keywords: Monolies; Comtition; Non-Renewable Resources; Resources Exoitation (search for similar items in EconPapers)
Pages: 9P. pages
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Journal Article: On comparing monopoly and competition in exhaustible resource exploitation (1988)
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Persistent link: https://EconPapers.repec.org/RePEc:mtl:montde:8601
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