Extraction of an exhaustible resource under uncertainty
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Extraction of an exhaustible resource under uncertainty

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Published by A. Hain in Königstein im Taunus .
Written in English


  • Industrial organization (Economic theory),
  • Natural resources

Book details:

Edition Notes

Bibliography: p. 126-129.

Statementby Michael Hoel.
SeriesMathematical systems in economics -- 51
LC ClassificationsHD2326 H56
The Physical Object
Pagination129 p. :
Number of Pages129
ID Numbers
Open LibraryOL19650424M
ISBN 103445120129

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Extraction of exhaustible resources under demand uncertainty. Abstract. In this paper, we discuss optimum extraction of an exhaustible resource. The problem is essentially the same as in (Ref. 1), but we shall study it in greater detail Cited by: 1. 5 Optimal Environmental Programmes under Uncertainty. Uncertainty and the Allocation of Resources. defined demand denote depends depletion Diagram discussed earlier economy effect efficient entire equal equation equilibrium example exhaustible resources exist expected exploration externalities extraction fact feasible firm. Reserve Lifetime and Depletion in Exhaustible Resource Extraction Under Uncertainty Karl Larsson∗ Department of Economics Knut Wicksell Centre for Financial Studies School of Economics and Management Lund University FIRST VERSION: December .

Natural Resource Economics can be traced back to Hotelling's paper "The Economics of Exhaustible Resource" from uncertainty affects extraction under uncertainty and option value in. BOOK REVIEW royalties and other leasing arrangements on the extraction path of an exhaustible resource also under uncertainty. Part consists of five loosely connected essays. Masanao Aoki examines the dynamic behaviour of a system composed of a large number of similar. strong implication for prices of these resources over time. When all prices and interest rates are adjusted for inflation, and as long as these “real” interest rates tend to be positive (and setting aside extraction costs, for the moment), the price of an exhaustible resource should rise over time at roughly the same pace as interest rates. Dynamic Timing Decisions Under Uncertainty: Essays on Invention, Innovation and Exploration in Resource Economics Prof. Dr. Nguyen Manh Hung, Prof. Dr. Nguyen Van Quyen (auth.) Jay Forrester's Economic Dynamics was published in and The Limits to Growth by Dennis Meadows and his associates appeared a year later.

The results show that: (1) when the extent of uncertain is fixed, the initial resources extraction and extraction rate increase by increasing the taxes rate; (2) when taxes rate is fixed. Extraction of an exhaustible resource under uncertainty Add library to Favorites Please choose whether or not you want other users to be able to see on your profile that this library is a favorite of yours. Abstract This paper compares the rate of extraction of a natural resource under alternative market structures when there is uncertainty about the date of discovery of a substitute (or about the date of discovery of a new deposit). Purchase Essays in the Economics of Exhaustible Resources, Volume - 1st Edition. Print Book & E-Book. ISBN ,