Hartwick, J. M.; Sadorsky, P. A. - In: Canadian Journal of Economics 23 (1990) 2, pp. 276-93
Strategic considerations of exploration and extraction are investigated in a two-player, two-period, two-stage perfect equilibrium framework. Relative to two "plant" monopoly, the duopolists explore more and extract more period by period. A mixed game in which there is cooperation "upstream" in...