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Production cost uncertainty and industry equilibrium for non-renewable resource extraction
Author(s)
Date Issued
1989
Journal
ISSN
1939-7445
Citation
Natural Resource Modeling, Fall 1989, vol. 3(4), pp. 577-588.
Type
Peer Reviewed Journal Article
Abstract
In this paper we examine production cost uncertainty in a non‐renewable resource industry model. A rational expectations, m‐firms industry equilibrium is characterized, and the effects of production cost uncertainty on industry rent and firms' profits are examined.
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