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Monopsonistic control of a common property renewable resource

Опубликовано на портале: 31-03-2003
Canadian Journal of Economics. 1983.  Vol. 16. No. 2. P. 275-287. 
In this paper the Crutchfield and Pontecorvo conjecture that a monopsonistic processing sector would induce efficient use of a common property resource is analysed. It is shown that if the harvesting sector consists of a large number of firms with identical convex technologies, then the conjecture is correct. In addition, sufficient conditions are found under which the stationary resource stock with a monopsonistic processing sector is greater than the efficient size.[Авторский текст]

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