تعادل فون استکلبرگ حلقه باز در مدلکارتل مقابل حاشیه

In this paper the binding-contracts open-loop von Stackelberg equilibrium in the cartel-vs.-fringe model of the supply side of a market for a raw material from an exhaustible natural resource is reconsidered. It is shown that the equilibrium for this model differs from what the previous literature on this model suggests. In particular, the equilibrium price trajectory can display discontinuities.