Abstract
This paper provides a quantitative analysis of different equilibrium concepts employed in the literature on the cartel-fringe models. It is shown that small changes in parameter values can greatly affect outcomes due to changes in extraction schedules. Furthermore, it is shown that results of the closed-loop Stackelberg equilibrium are often closer to the results of the open-loop Nash equilibrium than to those of the open-loop Stackelberg equilibrium. Copyright © 2012 Inderscience Enterprises Ltd.
| Original language | English |
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| Pages (from-to) | 60-82 |
| Journal | International Journal of Technology Management |
| Volume | 60 |
| Issue number | 1-2 |
| DOIs | |
| Publication status | Published - 2012 |