IDEAS home Printed from https://ideas.repec.org/p/tiu/tiutis/6bc6cbe2-bc1f-49ef-9988-80d6e2f4a4ba.html
   My bibliography  Save this paper

Inefficiency of credible strategies in oligopolistic resource markets with uncertainty

Author

Listed:
  • van der Ploeg, F.

    (Tilburg University, School of Economics and Management)

Abstract

No abstract is available for this item.

Suggested Citation

  • van der Ploeg, F., 1985. "Inefficiency of credible strategies in oligopolistic resource markets with uncertainty," Other publications TiSEM 6bc6cbe2-bc1f-49ef-9988-8, Tilburg University, School of Economics and Management.
    • Handle: RePEc:tiu:tiutis:6bc6cbe2-bc1f-49ef-9988-80d6e2f4a4ba
    as

    Download full text from publisher

    File URL: https://repository.tilburguniversity.edu/bitstreams/76c37016-73c4-46b5-a03f-4e222cf3d1f1/download
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Maskin, Eric & Newbery, David, 1978. "Rational Expectations with Market Power - The Paradox of the Disadvantageous Tariff on Oil," The Warwick Economics Research Paper Series (TWERPS) 129, University of Warwick, Department of Economics.
    2. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39(2), pages 137-137.
    3. Salant, Stephen W, 1976. "Exhaustible Resources and Industrial Structure: A Nash-Cournot Approach to the World Oil Market," Journal of Political Economy, University of Chicago Press, vol. 84(5), pages 1079-1093, October.
    4. Reinganum, Jennifer F & Stokey, Nancy L, 1985. "Oligopoly Extraction of a Common Property Natural Resource: The Importance of the Period of Commitment in Dynamic Games," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(1), pages 161-173, February.
    5. Basar, Tamer & Ho, Yu-Chi, 1974. "Informational properties of the Nash solutions of two stochastic nonzero-sum games," Journal of Economic Theory, Elsevier, vol. 7(4), pages 370-387, April.
    6. E. Maskin & D. Newbery, 1978. "Rational Expectations With Market Power: The Paradox of the Disadvantageous Tariff," Working papers 227, Massachusetts Institute of Technology (MIT), Department of Economics.
    7. Kydland, Finn, 1975. "Noncooperative and Dominant Player Solutions in Discrete Dynamic Games," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 321-335, June.
    8. Berck, Peter & Perloff, Jeffrey M, 1984. "An Open-Access Fishery with Rational Expectations," Econometrica, Econometric Society, vol. 52(2), pages 489-506, March.
    9. repec:bla:econom:v:44:y:1977:i:176:p:409-14 is not listed on IDEAS
    10. Robert S. Pindyck, 1984. "Uncertainty in the Theory of Renewable Resource Markets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 51(2), pages 289-303.
    11. Karp, Larry, 1984. "Optimality and consistency in a differential game with non-renewable resources," Journal of Economic Dynamics and Control, Elsevier, vol. 8(1), pages 73-97, October.
    12. Brito, D L, 1972. "A Dynamic Model of an Armaments Race," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 13(2), pages 359-375, June.
    13. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Frederick Ploeg & Aart Zeeuw, 1992. "International aspects of pollution control," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 2(2), pages 117-139, March.
    2. Koundouri, Phoebe, 2000. "Three approaches to measuring natural resource scarcity: theory and application to groundwater," MPRA Paper 38265, University Library of Munich, Germany.
    3. van der Ploeg, Frederick, 2018. "Political economy of dynamic resource wars," Journal of Environmental Economics and Management, Elsevier, vol. 92(C), pages 765-782.
    4. Rubio, Santiago J. & Casino, Begona, 2001. "Competitive versus efficient extraction of a common property resource: The groundwater case," Journal of Economic Dynamics and Control, Elsevier, vol. 25(8), pages 1117-1137, August.
    5. Salo, Seppo & Tahvonen, Olli, 2001. "Oligopoly equilibria in nonrenewable resource markets," Journal of Economic Dynamics and Control, Elsevier, vol. 25(5), pages 671-702, May.
    6. Frederick van der Ploeg, 2017. "Rapacious Oil Exploration in face of Regime Switches: Breakthrough Renewable Energy and Dynamic Resource Wars," Development Working Papers 415, Centro Studi Luca d'Agliano, University of Milano.
    7. Zili Yang, 2013. "Is the Leading Role Desirable?: A Simulation Analysis of the Stackelberg Behavior in World Petroleum Market," Computational Economics, Springer;Society for Computational Economics, vol. 42(1), pages 133-150, June.
    8. Karp, Larry, 1992. "Efficiency Inducing Tax for a Common Property Oligopoly," Economic Journal, Royal Economic Society, vol. 102(411), pages 321-332, March.
    9. van der Ploeg, Frederick, 2020. "Race to burn the last ton of carbon and the risk of stranded assets," European Journal of Political Economy, Elsevier, vol. 64(C).
    10. Karp, Larry, 1992. "Social Welfare in a Common Property Oligopoly," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 33(2), pages 353-372, May.
    11. Ngo Long, 2011. "Dynamic Games in the Economics of Natural Resources: A Survey," Dynamic Games and Applications, Springer, vol. 1(1), pages 115-148, March.
    12. Frederick Van der Ploeg, 2010. "Rapacious Resource Depletion, Excessive Investment and Insecure Property Rights," CESifo Working Paper Series 2981, CESifo.
    13. Margaret Insley & Tracy Snoddon & Peter A. Forsyth, 2018. "Strategic interactions and uncertainty in decisions to curb greenhouse gas emissions," Working Papers 1805, University of Waterloo, Department of Economics, revised 06 Jan 2018.
    14. Santiago J. Rubio Jorge & Begoña Casino, 1997. "Strategic behavior and efficiency in a groundwater pumping differential game," Working Papers. Serie EC 1997-18, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    15. Ellis, Christopher J., 2001. "Common Pool Equities: An Arbitrage Based Non-cooperative Solution to the Common Pool Resource Problem," Journal of Environmental Economics and Management, Elsevier, vol. 42(2), pages 140-155, September.
    16. van der Ploeg, Frederick, 2010. "Aggressive oil extraction and precautionary saving: Coping with volatility," Journal of Public Economics, Elsevier, vol. 94(5-6), pages 421-433, June.
    17. Frederick Ploeg, 2011. "Rapacious Resource Depletion, Excessive Investment and Insecure Property Rights: A Puzzle," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 48(1), pages 105-128, January.
    18. Burness, H. Stuart & Brill, Thomas C., 2001. "The role for policy in common pool groundwater use," Resource and Energy Economics, Elsevier, vol. 23(1), pages 19-40, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ngo Long, 2011. "Dynamic Games in the Economics of Natural Resources: A Survey," Dynamic Games and Applications, Springer, vol. 1(1), pages 115-148, March.
    2. Christian Beermann, 2015. "Climate Policy and the Intertemporal Supply of Fossil Resources," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 62, May.
    3. Charles Morcom & Michael Kremer, 2000. "Elephants," American Economic Review, American Economic Association, vol. 90(1), pages 212-234, March.
      • Michael Kremer & Charles Morcom, 1996. "Elephants," NBER Working Papers 5674, National Bureau of Economic Research, Inc.
      • Kremer, M. & Morcom, C., 1996. "Elephants," Working papers 96-17, Massachusetts Institute of Technology (MIT), Department of Economics.
    4. Sweeney, James L., 1993. "Economic theory of depletable resources: An introduction," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 17, pages 759-854, Elsevier.
    5. Kenji Fujiwara & Ngo Long, 2011. "Welfare Implications of Leadership in a Resource Market under Bilateral Monopoly," Dynamic Games and Applications, Springer, vol. 1(4), pages 479-497, December.
    6. Berk, Istemi, 2015. "Two-Period Resource Duopoly with Endogenous Intertemporal Capacity Constraints," EWI Working Papers 2014-13, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
    7. Ben White, 2000. "A Review of the Economics of Biological Natural Resources," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(3), pages 419-462, September.
    8. Rasmus Noss Bang & Lars-Kristian Lunde Trellevik, 2023. "Reserve-dependent capital efficiency, cross-sector competition, and mineral security considerations in mineral industry transition," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 36(3), pages 383-400, September.
    9. AMIR, Rabah, 2001. "Stochastic games in economics and related fields: an overview," LIDAM Discussion Papers CORE 2001060, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    10. Boyce, John R. & Vojtassak, Lucia, 2008. "An 'oil'igopoly theory of exploration," Resource and Energy Economics, Elsevier, vol. 30(3), pages 428-454, August.
    11. Lawrence H. Goulder & Marc S. Robinson, 1985. "Synfuels Production, Exhaustible Resources and Monopsony Power," UCLA Economics Working Papers 378, UCLA Department of Economics.
    12. Rasmus Noss, Bang & Trellevik, Lars-Kristian Lunde, 2022. "Transition to Marine Mining?," Discussion Papers 2022/9, Norwegian School of Economics, Department of Business and Management Science.
    13. Keutiben, Octave, 2014. "On capturing foreign oil rents," Resource and Energy Economics, Elsevier, vol. 36(2), pages 542-555.
    14. Halkos, George & Papageorgiou, George, 2008. "Extraction of non-renewable resources: a differential game approach," MPRA Paper 37596, University Library of Munich, Germany.
    15. Dale W. Henderson & Stephen W. Salant, 1976. "Market anticipations, government policy, and the price of gold," International Finance Discussion Papers 81, Board of Governors of the Federal Reserve System (U.S.).
    16. Devarajan, Shantayanan & Fisher, Anthony C, 1981. "Hotelling's "Economics of Exhaustible Resources": Fifty Years Later," Journal of Economic Literature, American Economic Association, vol. 19(1), pages 65-73, March.
    17. J. Subrick & Andrew Young, 2010. "Nobelity and novelty: Finn Kydland and Edward Prescott’s contributions viewed from Vienna," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(1), pages 35-53, March.
    18. Liski, Matti & Montero, Juan-Pablo, 2014. "Forward trading in exhaustible-resource oligopoly," Resource and Energy Economics, Elsevier, vol. 37(C), pages 122-146.
    19. Quemin, Simon & Trotignon, Raphaël, 2021. "Emissions trading with rolling horizons," Journal of Economic Dynamics and Control, Elsevier, vol. 125(C).
    20. Thomas Vallée, 2018. "Comparison of different Stackelberg solutions in a deterministic dynamic pollution control: the time inconsistency problem revisited," Working Papers halshs-01843717, HAL.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tiu:tiutis:6bc6cbe2-bc1f-49ef-9988-80d6e2f4a4ba. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Richard Broekman (email available below). General contact details of provider: https://www.tilburguniversity.edu/about/schools/economics-and-management/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.