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Decreasing of Oil Extraction: Consumption behavior along transition paths Author info | Abstract | Publisher info | Download info | Related research | Statistics Bazhanov, Andrei
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A normative analysis of the problem of optimal extraction of a non-renewable resource is considered. The economy depends on the essential non-renewable resource and the rate of the resource extraction increases over time. At some instant the government gradually switches to a sustainable (in sense of non-decreasing consumption over time) pattern of the resource extraction. Different approaches are offered for the construction some curves of switching to decreasing paths of the resource depletion. Consumption paths have diverse behavior patterns along these curves, including a path of unlimited growth. A new approach to the Rawlsian maximin criterion which allows for growth of consumption is offered.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
469.
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Date of creation: 08 Oct 2006Date of revision:
Handle: RePEc:pra:mprapa:469Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany Phone: +49-(0)89-2180-2219 Fax: +49-(0)89-2180-3900 Web page: http://mpra.ub.uni-muenchen.de More information through EDIRC
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Keywords: Non-renewable resource ; Intergenerational justice ; Hartwick rule ; Optimal path of extraction ; Generalized Rawlsian criterion ; Find related papers by JEL classification: Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy) Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
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"A Mixed Bentham-Rawls Criterion for Intergenerational Equity ,"
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Departmental Working Papers
2007-03, McGill University, Department of Economics.
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Full
references 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.)
Bazhanov, Andrei, 2008.
"Maximin-optimal sustainable growth with nonrenewable resource and externalities ,"
MPRA Paper
9510, University Library of Munich, Germany, revised 02 Jul 2008.
[Downloadable!]
Other versions: Bazhanov, Andrei, 2007.
"Switching to a sustainable efficient extraction path ,"
MPRA Paper
2976, University Library of Munich, Germany.
[Downloadable!]
Bazhanov, Andrei & Belyaev, Alexander, 2009.
"Адекватность Закрытой Модели Для Российской Экономики В Задаче Сравнительного Анализа Энергетической Стра� ,"
MPRA Paper
15109, University Library of Munich, Germany.
[Downloadable!]
Bazhanov, Andrei, 2007.
"The peak of oil extraction and consistency of the government's short- and long-run policies ,"
MPRA Paper
2507, University Library of Munich, Germany.
[Downloadable!]
Andreeva, Anastasiya & Bazhanov, Andrei, 2007.
"Сценарии Перехода К Устойчивым Темпам Добычи Нефти В России [Scenarios of transition to sustainable oil extraction in Russia] ,"
MPRA Paper
5343, University Library of Munich, Germany.
[Downloadable!]
Bazhanov, Andrei, 2006.
"The peak of oil extraction and a modified maximin principle ,"
MPRA Paper
14775, University Library of Munich, Germany, revised 12 Feb 2007.
[Downloadable!]
Bazhanov, Andrei, 2008.
"Inconsistency between a criterion and the initial conditions ,"
MPRA Paper
6792, University Library of Munich, Germany.
[Downloadable!]
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