Competition in markets for depletable resources with setup costs

Carolyn Fischer

doi:10.1007/s10640-004-1516-1

Competition in markets for depletable resources with setup costs

Carolyn Fischer^*

^*Corresponding author for this work

Spatial Economics

Research output: Contribution to Journal › Article › Academic › peer-review

Abstract

This paper analyzes the impact on exhaustible resource markets of setup costs, a sparsely analyzed category of nonconvex production technologies. This paper proves that, even under idealized circumstances for competition, a competitive equilibrium will fail to exist in the presence of setup costs, for any utility and cost functions such that a planner would exploit exhaustible resource pools sequentially.

Original language	English
Pages (from-to)	243-257
Number of pages	15
Journal	Environmental and Resource Economics
Volume	30
Issue number	3
DOIs	https://doi.org/10.1007/s10640-004-1516-1
Publication status	Published - 1 Mar 2005

Keywords

Competitive equilibrium
Natural resources
Non-convexities
Setup costs
Shutdown costs

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Fischer, C. (2005). Competition in markets for depletable resources with setup costs. Environmental and Resource Economics, 30(3), 243-257. https://doi.org/10.1007/s10640-004-1516-1

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