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Economic theory of depletable resources: An introduction

In: Handbook of Natural Resource and Energy Economics

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  • Sweeney, James L.
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    This chapter was published in:

  • A. V. Kneese† & J. L. Sweeney (ed.), 1993. "Handbook of Natural Resource and Energy Economics," Handbook of Natural Resource and Energy Economics, Elsevier, edition 1, volume 3, number 3.
    This item is provided by Elsevier in its series Handbook of Natural Resource and Energy Economics with number 3-17.

    Handle: RePEc:eee:natchp:3-17

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    1. Lewis, T. R., 1976. "Attitudes Toward Risk and the Optimal Exploitation of an Exhaustible Resource," Working Papers 103, California Institute of Technology, Division of the Humanities and Social Sciences.
    2. Caputo, Michael R, 1990. "New Qualitative Properties in the Competitive Nonrenewable Resource Extracting Model of the Firm," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(4), pages 829-39, November.
    3. Burness, H. Stuart, 1978. "Price uncertainty and the exhaustive firm," Journal of Environmental Economics and Management, Elsevier, vol. 5(2), pages 128-149, June.
    4. Schulze, William D., 1974. "The optimal use of non-renewable resources: The theory of extraction," Journal of Environmental Economics and Management, Elsevier, vol. 1(1), pages 53-73, May.
    5. William D. Nordhaus, 1973. "The Allocation of Energy Resources," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(3), pages 529-576.
    6. Livernois, John R., 1987. "Empirical evidence on the characteristics of extractive technologies: The case of oil," Journal of Environmental Economics and Management, Elsevier, vol. 14(1), pages 72-86, March.
    7. Nordhaus, William D, 1974. "Resources as a Constraint on Growth," American Economic Review, American Economic Association, vol. 64(2), pages 22-26, May.
    8. John Hartwick, 1975. "Exploitation of Many Deposits of an Exhaustible Resource," Working Papers 182, Queen's University, Department of Economics.
    9. Cairns, Robert D., 1990. "Geological influences, metal prices and rationality," Resources and Energy, Elsevier, vol. 12(2), pages 143-171, July.
    10. Livernois, John R & Uhler, Russell S, 1987. "Extraction Costs and the Economics of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 195-203, February.
    11. Slade, Margaret E., 1982. "Trends in natural-resource commodity prices: An analysis of the time domain," Journal of Environmental Economics and Management, Elsevier, vol. 9(2), pages 122-137, June.
    12. Stiglitz, Joseph E, 1976. "Monopoly and the Rate of Extraction of Exhaustible Resources," American Economic Review, American Economic Association, vol. 66(4), pages 655-61, September.
    13. Drury, Robert C, 1982. "Exploitation of Many Deposits of an Exhaustible Resource: Comment," Econometrica, Econometric Society, vol. 50(3), pages 769-74, May.
    14. Kenneth Hendricks & Dan Kovenock, 1989. "Asymmetric Information, Information Externalities, and Efficiency: The Case of Oil Exploration," RAND Journal of Economics, The RAND Corporation, vol. 20(2), pages 164-182, Summer.
    15. Caputo, Michael R., 1990. "A qualitative characterization of the competitive nonrenewable resource extracting firm," Journal of Environmental Economics and Management, Elsevier, vol. 18(3), pages 206-226, May.
    16. Slade, Margaret E., 1988. "Grade selection under uncertainty: Least cost last and other anomalies," Journal of Environmental Economics and Management, Elsevier, vol. 15(2), pages 189-205, June.
    17. Devarajan, Shantayanan & Fisher, Anthony C, 1982. "Exploration and Scarcity," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1279-90, December.
    18. Kuller, Robert G & Cummings, Ronald G, 1974. "An Economic Model of Production and Investment for Petroleum Reservoirs," American Economic Review, American Economic Association, vol. 64(1), pages 66-79, March.
    19. Gamponia, Villamor & Mendelsohn, Robert, 1985. "The Taxation of Exhaustible Resources," The Quarterly Journal of Economics, MIT Press, vol. 100(1), pages 165-81, February.
    20. Tjalling C. Koopmans, 1973. "Some Observations on 'Optimal' Economic Growth and Exhaustible Resources," Cowles Foundation Discussion Papers 356, Cowles Foundation for Research in Economics, Yale University.
    21. Reinganum, Jennifer F & Stokey, Nancy L, 1985. "Oligopoly Extraction of a Common Property Natural Resource: The Importance of the Period of Commitment in Dynamic Games," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(1), pages 161-73, February.
    22. Dasgupta, Partha & Gilbert, Richard J & Stiglitz, Joseph E, 1982. "Invention and Innovation under Alternative Market Structures: The Case of Natural Resources," Review of Economic Studies, Wiley Blackwell, vol. 49(4), pages 567-82, October.
    23. Brennan, Michael J & Schwartz, Eduardo S, 1985. "Evaluating Natural Resource Investments," The Journal of Business, University of Chicago Press, vol. 58(2), pages 135-57, April.
    24. Lewis, Tracy R & Matthews, Steven A & Burness, H Stuart, 1979. "Monopoly and the Rate of Extraction of Exhaustible Resources: Note," American Economic Review, American Economic Association, vol. 69(1), pages 227-30, March.
    25. Salant, Stephen W, 1976. "Exhaustible Resources and Industrial Structure: A Nash-Cournot Approach to the World Oil Market," Journal of Political Economy, University of Chicago Press, vol. 84(5), pages 1079-93, October.
    26. Burness, H. Stuart, 1976. "On the taxation of nonreplenishable natural resources," Journal of Environmental Economics and Management, Elsevier, vol. 3(4), pages 289-311, December.
    27. Lewis, Tracy R., 1976. "Monopoly exploitation of an exhaustible resource," Journal of Environmental Economics and Management, Elsevier, vol. 3(3), pages 198-204, October.
    28. Farzin, Y Hossein, 1984. "The Effect of the Discount Rate on Depletion of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 92(5), pages 841-51, October.
    29. Lewis, Tracy R, 1979. "The Exhaustion and Depletion of Natural Resources," Econometrica, Econometric Society, vol. 47(6), pages 1569-71, November.
    30. Glenn C. Loury, 1977. "The Optimal Exploitation of an Unknown Reserve," Discussion Papers 255, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    31. Solow, Robert M, 1974. "The Economics of Resources or the Resources of Economics," American Economic Review, American Economic Association, vol. 64(2), pages 1-14, May.
    32. Lewis, Tracy R, 1982. "Sufficient Conditions for Extracting Least Cost Resource First," Econometrica, Econometric Society, vol. 50(4), pages 1081-83, July.
    33. Kemp, Murray C & Long, Ngo Van, 1980. "On Two Folk Theorems Concerning the Extraction of Exhaustible Resources," Econometrica, Econometric Society, vol. 48(3), pages 663-73, April.
    34. Sweeney, James L, 1977. "Economics of Depletable Resources: Market Forces and Intertemporal Bias," Review of Economic Studies, Wiley Blackwell, vol. 44(1), pages 125-41, February.
    35. Hoel, Michael, 1978. "Resource extraction, substitute production, and monopoly," Journal of Economic Theory, Elsevier, vol. 19(1), pages 28-37, October.
    36. Mukesh Eswaran & Tracy Lewis, 1985. "Exhaustible Resources and Alternative Equilibrium Concepts," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 459-73, August.
    37. Stiglitz, Joseph E. & Dasgupta, Partha, 1982. "Market structure and resource depletion: A contribution to the theory of intertemporal monopolistic competition," Journal of Economic Theory, Elsevier, vol. 28(1), pages 128-164, October.
    38. Gilbert, Richard J. & Goldman, Steven M., 1978. "Potential competition and the monopoly price of an exhaustible resource," Journal of Economic Theory, Elsevier, vol. 17(2), pages 319-331, April.
    39. Kamien, Morton I. & Schwartz, Nancy L., 1977. "Disaggregated intertemporal models with an exhaustible resource and technical advance," Journal of Environmental Economics and Management, Elsevier, vol. 4(4), pages 271-288, December.
    40. Pindyck, Robert S, 1978. "The Optimal Exploration and Production of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 841-61, October.
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    Cited by:
    1. Chermak, Janie M. & Crafton, James & Norquist, Suzanne M. & Patrick, Robert H., 1999. "A hybrid economic-engineering model for natural gas production," Energy Economics, Elsevier, vol. 21(1), pages 67-94, February.
    2. Fellows, G. Kent, 2011. "Negotiated settlements with a cost of service backstop: The consequences for depreciation," Energy Policy, Elsevier, vol. 39(3), pages 1505-1513, March.
    3. Osmundsen, Petter & Roll, Kristin Helen & Tveterås, Ragnar, 2010. "Faster Drilling with Expercience?," UiS Working Papers in Economics and Finance 2010/7, University of Stavanger.
    4. Salo, Seppo & Tahvonen, Olli, 2001. "Oligopoly equilibria in nonrenewable resource markets," Journal of Economic Dynamics and Control, Elsevier, vol. 25(5), pages 671-702, May.
    5. Koskela, Erkki & Ollikainen, Markku & Puhakka, Mikko, 2002. "Renewable Resources in an Overlapping Generations Economy Without Capital," Journal of Environmental Economics and Management, Elsevier, vol. 43(3), pages 497-517, May.
    6. Chermak, Janie M. & Patrick, Robert H., 2001. "A Microeconometric Test of the Theory of Exhaustible Resources," Journal of Environmental Economics and Management, Elsevier, vol. 42(1), pages 82-103, July.
    7. Hung, Nguyen Manh & Poudou, Jean-Christophe & Thomas, Lionel, 2006. "Optimal resource extraction contract with adverse selection," Resources Policy, Elsevier, vol. 31(2), pages 78-85, June.
    8. Jeffrey A. Krautkraemer, 1998. "Nonrenewable Resource Scarcity," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 2065-2107, December.
    9. Lawrence Goulder, 1995. "Environmental taxation and the double dividend: A reader's guide," International Tax and Public Finance, Springer, vol. 2(2), pages 157-183, August.
    10. Koskela, Erkki & Ollikainen, Markku & Puhakka, Mikk0, 2001. "Renewable Resources in an Overlapping Generations Economy without Capital," Discussion Papers 751, The Research Institute of the Finnish Economy.
    11. Cynthia Lin, C.-Y. & Wagner, Gernot, 2007. "Steady-state growth in a Hotelling model of resource extraction," Journal of Environmental Economics and Management, Elsevier, vol. 54(1), pages 68-83, July.

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