Discontinuous Extraction of a Nonrenewable Resource

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Discontinuous Extraction of a Nonrenewable Resource

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Eric Iksoon Im
Ujjayant Chakravorty ()
James Roumasset

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Abstract

This paper examines the optimal extraction sequence of nonrenewable resources in the presence of multiple demands. We provide conditions under which extraction of a nonrenewable resource may be discontinuous over the course of its depletion.

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Paper provided by Department of Economics, Emory University (Atlanta) in its series Emory Economics with number 0406.

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Date of creation: Jun 2004
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Handle: RePEc:emo:wp2003:0406

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Article
- Im, Eric Iksoon & Chakravorty, Ujjayant & Roumasset, James, 2006. "Discontinuous extraction of a nonrenewable resource," Economics Letters, Elsevier, vol. 90(1), pages 6-11, January. [Downloadable!] (restricted)
Paper
- Eric Iksoon Im & Ujjayant Chakravorty & James Roumasset, 2005. "Discontinuous Extraction of a Nonrenewable Resource," Working Papers 200509, University of Hawaii at Manoa, Department of Economics. [Downloadable!]

This paper has been announced in the following NEP Reports:

NEP-ALL-2004-07-11 (All new papers)
NEP-ENV-2004-07-11 (Environmental Economics)
NEP-RES-2004-07-11 (Resource Economics)

References listed on IDEAS
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.:

Lewis, Tracy R, 1982. "Sufficient Conditions for Extracting Least Cost Resource First," Econometrica, Econometric Society, vol. 50(4), pages 1081-83, July. [Downloadable!] (restricted)
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. [Downloadable!] (restricted)
Robert M. Solow & Frederic Y. Wan, 1976. "Extraction Costs in the Theory of Exhaustible Resources," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 359-370, Autumn. [Downloadable!] (restricted)
Ujjayant Chakravorty & Darrell Krulce & James Roumasset, 2003. "Specialization and Nonrenewable Resources: Ricardo meets Ricardo," Emory Economics 0305, Department of Economics, Emory University (Atlanta). [Downloadable!]
Other versions:
- Ujjayant Chakravorty & Darrell Krulce & James Roumasset, 2004. "Specialization and Nonrenewable Resources: Ricardo Meets Ricardo," Working Papers 200401, University of Hawaii at Manoa, Department of Economics. [Downloadable!]
- Chakravorty, Ujjayant & Krulce, Darrell & Roumasset, James, 2005. "Specialization and non-renewable resources: Ricardo meets Ricardo," Journal of Economic Dynamics and Control, Elsevier, vol. 29(9), pages 1517-1545, September. [Downloadable!] (restricted)
Gerard Gaudet & Michel Moreaux & Stephen W. Salant, 2001. "Intertemporal Depletion of Resource Sites by Spatially Distributed Users," American Economic Review, American Economic Association, vol. 91(4), pages 1149-1159, September. [Downloadable!] (restricted)
Amigues, Jean-Pierre & Favard, Pascal & Gaudet, Gerard & Moreaux, Michel, 1998. "On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute Is Limited," Journal of Economic Theory, Elsevier, vol. 80(1), pages 153-170, May. [Downloadable!] (restricted)
Other versions:
- Amigues, J.-P. & Favard, P. & Gaudet, G. & Moreaux, M., 1996. "On The Optimal Order of Natural Resourse Use When the Capacity of the Inexhaustible Substitute is Limited," Papers 96.431, Toulouse - GREMAQ.
- Amigues, J-P & Favard, P, Gaudet, G & Moreaux, M, 1996. "On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute is Limited," Cahiers de recherche 9628, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Amigues, J-P & Favard, P, Gaudet, G & Moreaux, M, 1996. "On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute is Limited," Cahiers de recherche 9628, Universite de Montreal, Departement de sciences economiques. [Downloadable!]
Chakravorty, Ujjayant & Krulce, Darrell L, 1994. "Heterogeneous Demand and Order of Resource Extraction," Econometrica, Econometric Society, vol. 62(6), pages 1445-52, November. [Downloadable!] (restricted)

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Cited by:
(explanations, 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.)

LAFFORGUE Gilles & MAGNE Bertrand & MOREAUX Michel, 2007. "Energy Substitutions, Climate change and Carbon sinks," Working Papers 07.01.222, LERNA, University of Toulouse. [Downloadable!]
Other versions:
- Lafforgue, Gilles & Magne, Bertrand & Moreaux, Michel, 2007. "Energy Substitutions, Climate Change and Carbon Sinks," IDEI Working Papers 427, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
- Lafforgue, Gilles & Magné, Bertrand & Moreaux, Michel, 2008. "Energy substitutions, climate change and carbon sinks," Ecological Economics, Elsevier, vol. 67(4), pages 589-597, November. [Downloadable!] (restricted)

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