Benchekroun, Hassan; Halsema, Alex; Withagen, Cees - In: Journal of Economic Dynamics and Control 33 (2009) 11, pp. 1867-1879
We give a full characterization of the open-loop Nash equilibrium of a nonrenewable resource game between two types of firms differing in extraction costs. We show that (i) there almost always exists a phase where both types of firms supply simultaneously, (ii) when the high cost mines are...
