Declining Exhaustible Resource Rent with Small, Distinct Extractive Firms
AbstractWe consider a competitive extraction industry comprising many small firms, each with a slightly different quality of mineral holdings. With "rapidly" declining quality of holding per firm we observe rent declining over and interval. We do not work with the planning solution, commonly invoked in the study of firms with distinct qualities of stock.
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Bibliographic InfoPaper provided by Queen's University, Department of Economics in its series Working Papers with number 1139.
Length: 9 pages
Date of creation: Nov 2007
Date of revision:
exhaustible resources; resource rent; competitive extraction;
Find related papers by JEL classification:
- Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
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- John Livernois & Patrick Martin, 2001. "Price, scarcity rent, and a modified r per cent rule for non-renewable resources," Canadian Journal of Economics, Canadian Economics Association, vol. 34(3), pages 827-845, August.
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