We analyze the behavior of a nonrenewable resource cartel that anticipates being forced, at some date in the future, to break-up into an oligopolistic market in which its members will then have to compete as rivals. Under reasonable assumptions about the value function of the individual firms in...

We analyze the behavior of a nonrenewable resource cartel that anticipates being forced, at some date in the future, to break-up into an oligopolistic market in which its members will then have to compete as rivals. Under reasonable assumptions about the value function of the individual firms in...

We consider the steady-state equilibrium of an industry characterized by simultaneous decision-making between a produder of a primary good devides on the quality of the virgin product he will produce, and the producer of a perfectly substitutable, but more costly, recycled product, who decides...