BENCHEKROUN, Hassan; HALSEMA, Alex; WITHAGEN, Cees - Centre Interuniversitaire de Recherche en Économie … - 2008
We give a full characterization of the open-loop Nash equilibrium of a non-renewable resource asymmetric game. We show that (i) there almost always exists a phase where both supply simultaneously positive quantities, (ii) when the high cost mine is exploited by a number of firms that goes to...