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Modeling Depletion in a Mineral Industry: The Case of Coal

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  • Martin B. Zimmerman

Abstract

This paper has a two-fold purpose. The wider and more abstract purpose is estimating the long-run marginal cost of producing a depletable resource. The second purpose is the illumination of several important policy issues dealing with the development of coal resources. The essence of depletion is the movement from cheaper to more costly deposits. Econometric models estimated from past observations on prices and outputs cannot capture this movement, since the past reflects only the more favorable deposits.

Suggested Citation

  • Martin B. Zimmerman, 1977. "Modeling Depletion in a Mineral Industry: The Case of Coal," Bell Journal of Economics, The RAND Corporation, vol. 8(1), pages 41-65, Spring.
    • Handle: RePEc:rje:bellje:v:8:y:1977:i:spring:p:41-65
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    1. Ultimátum a la Tierra (IV): Comentarios a las respuestas
      by Juan de Ortega in Politikon on 2014-07-23 13:00:07

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    Cited by:

    1. Giacomo Benini & Adam Brandt & Valerio Dotti & Hassan El-Houjeiri, 2023. "The Economic and Environmental Consequences of the Petroleum Industry Extensive Margin," Working Papers 2023:14, Department of Economics, University of Venice "Ca' Foscari".
    2. Macías, Arturo & Matilla-García, Mariano, 2015. "Net energy analysis in a Ramsey–Hotelling growth model," Energy Policy, Elsevier, vol. 86(C), pages 562-573.
    3. Dahl, Carol & Duggan, Thomas E., 1996. "U.S. energy product supply elasticities: A survey and application to the U.S. oil market," Resource and Energy Economics, Elsevier, vol. 18(3), pages 243-263, October.
    4. Di Maria, Corrado & Lange, Ian & Lazarova, Emiliya, 2018. "A look upstream: Market restructuring, risk, procurement contracts and efficiency," International Journal of Industrial Organization, Elsevier, vol. 57(C), pages 35-83.
    5. L. Marsiliani & X. Liu & Л. Марсилиани & К. Лю, 2017. "Структура Акционерного Капитала И Степень Эксплуатации Нефтяных Месторождений // Share-Ownership Distribution And Extraction Rate Of Petroleum In Oil Fields," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 5(1), pages 42-53.
    6. Mason, Charles F., 2012. "On equilibrium in resource markets with scale economies and stochastic prices," Journal of Environmental Economics and Management, Elsevier, vol. 64(3), pages 288-300.
    7. Ritchie, Justin & Dowlatabadi, Hadi, 2017. "The 1000 GtC coal question: Are cases of vastly expanded future coal combustion still plausible?," Energy Economics, Elsevier, vol. 65(C), pages 16-31.

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