Learning and price volatility in duopoly models of resource depletion
نویسندگان
چکیده
منابع مشابه
Learning and price volatility in duopoly models of resource depletion
The aim of this paper is to provide a theoretical model that can account for price fluctuations in depletable resource markets. We do so by introducing learning into a Hotelling-style duopoly model of optimal resource depletion. Before the depletable resource becomes scarce, the self-confirming equilibrium of the model mirrors noncooperative rational expectations equilibrium in that supply is h...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2013
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2013.06.005