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Monopoly and the Rate of Extraction of Exhaustible Resources

Stiglitz, Joseph E.

In some recent discussions of the "energy crisis," the suggestion has been put forward that the oil producing countries or the oil companies have been acting collusively and have forced the price of oil to a level far higher than it would have been in competitive equilibrium.

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American Economic Review

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Academic Units
Economics
Published Here
May 2, 2013
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