{"title":"What does a dynamic oligopoly maximize? The continuous time Markov case","authors":"Juan Pablo Rincón-Zapatero","doi":"arxiv-2407.20810","DOIUrl":null,"url":null,"abstract":"We analyze the question of whether the outcome of an oligopoly exploiting a\nnonrenewable resource can be replicated by a related monopoly, within the\nframework of continuous time and Markov Perfect Nash Equilibrium. We establish\nnecessary and sufficient conditions and find explicit solutions in some cases.\nAlso, very simple models with externalities are shown which Nash equilibrium\ncannot be replicated in a monopoly.","PeriodicalId":501188,"journal":{"name":"arXiv - ECON - Theoretical Economics","volume":"75 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"arXiv - ECON - Theoretical Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/arxiv-2407.20810","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
We analyze the question of whether the outcome of an oligopoly exploiting a
nonrenewable resource can be replicated by a related monopoly, within the
framework of continuous time and Markov Perfect Nash Equilibrium. We establish
necessary and sufficient conditions and find explicit solutions in some cases.
Also, very simple models with externalities are shown which Nash equilibrium
cannot be replicated in a monopoly.
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