Comment: The Economics of Interdependent Renewable and Non-renewable Resources revisited
AbstractThis work expands upon Swallow's theoretical analysis of interactions between renewable and non-renewable resources. In this comment the interaction is such that the renewable resource prefers the non-renewable environment, as opposed to SwallowÕs (op cit) case of the non-renewable environment being essential to the renewable resource. We find that this difference strongly affects the results, and makes the resources change from being complements to being substitutes, i.e. in the essential case profits from active development of the non-renewable resource come at the cost of reducing the optimal stock level for the renewable resource, while a preferred habitat implies the impacts of development can be offset by allowing for a larger renewable stock level.
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Bibliographic InfoPaper provided by University of Otago, Department of Economics in its series Working Papers with number 0904.
Length: 16 pages
Date of creation: May 2009
Date of revision: May 2009
bioeconomic analysis; interaction renewable non-renewable resource;
Find related papers by JEL classification:
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
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