Monopoly, price controls, and the exploitation of nonrenewable resources
Journal Article
·
· J. Energy Dev.; (United States)
OSTI ID:5513956
The Hotelling nonrenewable resource model is used to analyze the effect of monopoly and price controls. The author describes the monopoly model and analyzes the effects on decision making when a permanent price ceiling is imposed. The presence of a price ceiling, even if it exceeds current prices, does not expand the current output of a monopoly supplier. This implies that policies that threaten to limit future returns under monopoly conditions have the opposite effect. 12 references, 2 figures. (DCK)
- Research Organization:
- Virginia Polytechnic Inst. and State Univ., Blacksburg
- OSTI ID:
- 5513956
- Journal Information:
- J. Energy Dev.; (United States), Journal Name: J. Energy Dev.; (United States) Vol. 7:1; ISSN JENDD
- Country of Publication:
- United States
- Language:
- English
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