On Coase and Hotelling
It has been long recognized that an exhaustible-resource monopsonist faces a commitment problem similar to that of a durable-good monopolist. Indeed, Hörner and Kamien (2004) demonstrate that the two problems are formally equivalent under full commitment. We show that there is no such equivalence in...
| Main Authors: | , |
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| Format: | Working Paper |
| Published: |
2009
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| Online Access: | http://hdl.handle.net/1721.1/45665 |