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Thermodynamic implications for natural resource extraction and technical change in U.S. copper mining

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  • Matthias Ruth
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    Abstract

    Motivated by the lack of integrated approaches that do justice to both the thermodynamic and economic aspects of natural resource use and the lack of empirical studies combining the two disciplines, this paper provides an integrated framework for the valuation of technologies, substitution and technical change. The paper determines empirically the relationships between thermodynamic states of materials and the use of high-quality energy sources for the case of copper mining in the United States. The empirical analysis provides the basis for a nonlinear dynamic simulation of optimal resource extraction and endogenous technical change in the light of changing resource quality. The study assesses the potential for future improvements in U.S. copper mining. Copyright Kluwer Academic Publishers 1995

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    Bibliographic Info

    Article provided by European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.

    Volume (Year): 6 (1995)
    Issue (Month): 2 (September)
    Pages: 187-206

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    Handle: RePEc:kap:enreec:v:6:y:1995:i:2:p:187-206

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    Web page: http://www.springerlink.com/link.asp?id=100263

    Related research

    Keywords: Endogenous technical change; thermodynamic limits; substitution; optimal resource extraction; copper mining;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Ayres, Robert U., 1988. "Optimal investment policies with exhaustible resources: An information-based model," Journal of Environmental Economics and Management, Elsevier, vol. 15(4), pages 439-461, December.
    2. Lesourd, Jean-Baptiste, 1985. "Energy and resources as production factors in process industries," Energy Economics, Elsevier, vol. 7(3), pages 138-144, July.
    3. Ruth, Matthias & Bullard, Clark W., 1993. "Information, production and utility," Energy Policy, Elsevier, vol. 21(10), pages 1059-1067, October.
    4. Islam, Saiful, 1985. "Effect of an essential input on isoquants and substitution elasticities," Energy Economics, Elsevier, vol. 7(3), pages 194-196, July.
    5. Ruth, Matthias, 1995. "Information, order and knowledge in economic and ecological systems: implications for material and energy use," Ecological Economics, Elsevier, vol. 13(2), pages 99-114, May.
    6. Dorfman, Robert, 1969. "An Economic Interpretation of Optimal Control Theory," American Economic Review, American Economic Association, vol. 59(5), pages 817-31, December.
    7. Faber, Malte & Proops, John & Ruth, Matthias & Michaelis, Peter, 1990. "Economy-environment interactions in the long-run: a neo-Austrian approach," Ecological Economics, Elsevier, vol. 2(1), pages 27-55, April.
    8. Hannon, Bruce & Ruth, Matthias & Delucia, Evan, 1993. "A physical view of sustainability," Ecological Economics, Elsevier, vol. 8(3), pages 253-268, December.
    9. Kummel, Reiner, 1989. "Energy as a factor of production and entropy as a pollution indicator in macroeconomic modelling," Ecological Economics, Elsevier, vol. 1(2), pages 161-180, May.
    10. Ayres, Robert U. & Miller, Steven M., 1980. "The role of technological change," Journal of Environmental Economics and Management, Elsevier, vol. 7(4), pages 353-371, December.
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    Cited by:
    1. Ruth, Matthias, 1995. "Information, order and knowledge in economic and ecological systems: implications for material and energy use," Ecological Economics, Elsevier, vol. 13(2), pages 99-114, May.
    2. Cleveland, Cutler J. & Ruth, Matthias, 1997. "When, where, and by how much do biophysical limits constrain the economic process?: A survey of Nicholas Georgescu-Roegen's contribution to ecological economics," Ecological Economics, Elsevier, vol. 22(3), pages 203-223, September.
    3. Rechberger, H. & Graedel, T. E., 2002. "The contemporary European copper cycle: statistical entropy analysis," Ecological Economics, Elsevier, vol. 42(1-2), pages 59-72, August.
    4. Ruth, Matthias, 1995. "Thermodynamic constraints on optimal depletion of copper and aluminum in the United States: a dynamic model of substitution and technical change," Ecological Economics, Elsevier, vol. 15(3), pages 197-213, December.
    5. Stern, David I., 1997. "Limits to substitution and irreversibility in production and consumption: A neoclassical interpretation of ecological economics," Ecological Economics, Elsevier, vol. 21(3), pages 197-215, June.

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