Originally published in 1979. While the theory of non-renewable
resources under competitive and monopolistic market regimes have
been relatively well developed, almost no attention has been given
to the development of a theoretical framework for analysis of the
spectrum of mixed market structure between those extremes. The
world oil market structure is an example of such an intermediate
market structure. The purpose of this title is to develop such a
theoretical framework. The study examines non-renewable resource
markets in which a profit maximizing producer cartel co-exists with
a non-cartel supply sector, which is alternately modelled as
consisting of a collection of competitive firms or as exhibiting
other exogenously assumed supply behaviours. This title will be of
interest to students of environmental economics.
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