BENCHEKROUN, Hassan; WITHAGEN, Cees - Centre Interuniversitaire de Recherche en Économie … - 2008
We specify and solve a closed-loop dominant firm nonrenewable resource game, with a price-taking fringe. We show that (i) the outcomes of the closed-loop and the open-loop dominant firm nonrenewable resource game (à la Salant 1976) coincide and (ii) when the number of fringe firms becomes...