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- W2022045710 abstract "We extend Fujiwara’s (2008) model to describe a differential oligopoly game of resource extraction under static, linear feedback and nonlinear feedback strategies, generalizing his result that steady state feedback outputs are lower than monopoly and static oligopoly equilibrium outputs for any number of firms. Additionally, we show that (i) feedback rules entail resource exhaustion for a finite number of firms; and (ii) feedback strategies are more aggressive than static ones as long as the resource stock is large enough, in accordance with the acquired view based on the traditional pre-emption argument associated with feedback information." @default.
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- W2022045710 date "2013-01-01" @default.
- W2022045710 modified "2023-09-26" @default.
- W2022045710 title "Feedback Equilibria in a Dynamic Renewable Resource Oligopoly: Pre-Emption, Voracity and Exhaustion" @default.
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- W2022045710 doi "https://doi.org/10.2139/ssrn.2283126" @default.
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