Competitive, monopolistic and efficient utilization of an exhaustible resource in the presence of habit-formation effects and stock dependent costs

M. Gross*, Z. Lieber

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

The letter investigates the utilization of an exhaustible resource under perfect competition and monopoly, and compares monopolistic and competitive depletion patterns with those under social surplus maximization. Demand and costs are assumed to depend on current as well as accumulated output.

Original languageEnglish
Pages (from-to)383-388
Number of pages6
JournalEconomics Letters
Volume14
Issue number4
DOIs
StatePublished - 1984

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