@article{Morin-Chasse:181203,
      recid = {181203},
      author = {Morin-Chasse, Remi and Herrmann, Markus},
      title = {On the Multiplicity of Equilibrium Strategies in a  Non-Renewable Natural Resource Duopoly},
      address = {2014-08},
      number = {1643-2016-135259},
      series = {CREATE Working Papers},
      year = {2014},
      abstract = {We identify two possible equilibrium configurations for a  non-renewable resource duopoly in a discrete-time  framework. For the purpose of illustration, we suppose  initial endowments of firms that allow for a maximum of two  extraction periods. In the first possible equilibrium, the  duopoly exists for two periods, while in the second  possible equilibrium, the duopoly lasts only for one period  and the firm with the higher initial endowment becomes a  monopolist in the second and last period. As neither  equilibrium configuration dominates the other for both  firms at the same time, it is unclear whether firms acting  simultaneously can coordinate on one particular  configuration.},
      url = {http://ageconsearch.umn.edu/record/181203},
      doi = {https://doi.org/10.22004/ag.econ.181203},
}