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Higher Quality Exhaustible Resource Deposits Receiving Higher or Lower Resource Rents in a Simple Spatial Framework

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  • John Hartwick

    ()
    (Queen's University)

Abstract

Kolstad.s (1994) model of intertemporal, competitive supply to a linear market from two distinct exhaustible resource deposits admits two di¤erent interior solutions . one with the low cost deposit "earning" the higher resource rent and the other with the low cost deposit "earning" the lower resource rent. This latter outcome turns on the initial size of the low cost deposit being significantly larger than the high cost deposit. We infer then that size can trump quality in the determination of the resource rent for a deposit, when geography is explicit.

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File URL: http://qed.econ.queensu.ca/working_papers/papers/qed_wp_1281.pdf
File Function: First version 2011
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Bibliographic Info

Paper provided by Queen's University, Department of Economics in its series Working Papers with number 1281.

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Length: 17 pages
Date of creation: Sep 2011
Date of revision:
Handle: RePEc:qed:wpaper:1281

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Keywords: exhaustible resource extraction; deposit quality; linear market;

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  1. Kolstad Charles D., 1994. "Hotelling Rents in Hotelling Space: Product Differentiation in Exhaustible Resource Markets," Journal of Environmental Economics and Management, Elsevier, vol. 26(2), pages 163-180, March.
  2. 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.
  3. 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.
  4. Robert D. Cairns and Graham A. Davis, 2001. "Adelman's Rule and the Petroleum Firm," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 31-54.
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