THE CURSE OF WINDFALL GAINS IN A NON RENEWABLE RESOURCE OLIGOPOLY

We investigate the effect of stock discovery on the profits of non-identical oligopolists. We show that a uniform addition to all stocks could harm firms that are originally larger than average. One conclusion that could be drawn from the results is that a new technology that leads to more efficient exploitation of the available resource is not necessarily welcomed by all firms.

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Year of publication:	2006-09
Authors:	Benchekroun, Hassan ; Long, Ngo Van
Institutions:	Department of Economics, McGill University

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Extent:	application/pdf
Series:	Departmental Working Papers.
Type of publication:	Book / Working Paper
Notes:	10 pages
Classification:	D43 - Oligopoly and Other Forms of Market Imperfection ; L13 - Oligopoly and Other Imperfect Markets ; Q33 - Resource Booms
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005503846