Benchekroun, Hassan; Withagen, Cees - In: Games and Economic Behavior 76 (2012) 2, pp. 355-374
We consider a nonrenewable resource game with one cartel and a set of fringe members. We show that (i) the outcomes of the closed-loop and the open-loop nonrenewable resource game with the fringe members as price takers (the cartel–fringe game à la Salant, 1976) coincide and (ii) when the...