On agreements in a nonrenewable resource market: A cooperative differential game approach
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DOI: 10.1016/j.jedc.2018.11.001
Abstract: We consider a nonrenewable resource duopoly with economic exhaustion. We characterize the set of Pareto efficient equilibria. We show that when firms are sufficiently patient, there exists no Pareto efficient agreement that yields short-run gains… read more here.
Keywords: agreement; nonrenewable resource; efficient agreement; agreements nonrenewable ... See more keywords