Set-up Costs and Theory of Exhaustible Resources

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Set-up Costs and Theory of Exhaustible Resources

Author Info

John Hartwick
Murray Kemp
Ngo van Long

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Abstract

With several identical deposits of an exhaustible non-reproducible resource, the working of a deposit entails a set-up cost but no other cost. The deposits must be extracted in strict sequence with jump discontinuities of marginal benefits at transition points. Moreover, the average rate of increase of marginal benefit is less than the interest rate.

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Publisher Info
Paper provided by Queen's University, Department of Economics in its series Working Papers with number 412.

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Length: 33
Date of creation: 1980
Date of revision:
Handle: RePEc:qed:wpaper:412

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Article
- Hartwick, John M. & Kemp, Murray C. & Van Long, Ngo, 1986. "Set-up costs and theory of exhaustible resources," Journal of Environmental Economics and Management, Elsevier, vol. 13(3), pages 212-224, September. [Downloadable!] (restricted)

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Francisco AndrÃ© & Emilio CerdÃ¡, 2004. "Landfill Construction and Capacity Expansion," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 28(4), pages 409-434, August. [Downloadable!] (restricted)
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- Andre, F.J. & Cerda, E., 2003. "Landfill construction and capacity expansion," Discussion Paper 115, Tilburg University, Center for Economic Research. [Downloadable!]
Emilio Cerdá & Francisco J. André, 2001. "Optimal Substitution Of Renewable And Nonrenewable Natural Resources In Production," Working Papers. Serie AD 2001-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
Fischer, Carolyn, 1999. "Read This Paper Later: Procrastination with Time-Consistent Preferences," Discussion Papers dp-99-19, Resources For the Future. [Downloadable!]
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Robert Cairns, 2001. "Capacity Choice and the Theory of the Mine," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 18(1), pages 129-148, January. [Downloadable!] (restricted)
Norgaard, Richard B., 1992. "Sustainability and the economics of assuring assets for future generations," Policy Research Working Paper Series 832, The World Bank. [Downloadable!]
Anthony Fisher & Larry Karp, 1993. "Nonconvexity, efficiency and equilibrium in exhaustible resource depletion," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 3(1), pages 97-106, February. [Downloadable!] (restricted)
Fischer, Carolyn, 1998. "Once-and-for-All Costs and Exhaustible Resource Markets," Discussion Papers dp-98-25, Resources For the Future. [Downloadable!]
Murray C. Kemp & Ngo Van Long, 2007. "Extracting Several Resource Deposits of Unknown Size: Optimal Order," CIRANO Working Papers 2007s-10, CIRANO. [Downloadable!]
GAUDET, Gérard & MOREAUX, Michel & WITHAGEN, Cees, 2005. "The Alberta Dilemma: Optimal Sharing of a Water Resource by an Agricultural and an Oil Sector," Cahiers de recherche 2005-18, Universite de Montreal, Departement de sciences economiques. [Downloadable!]
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- Gaudet, Gerard & Moreaux, Michel & Withagen, Cees, 2006. "The Alberta dilemma: Optimal sharing of a water resource by an agricultural and an oil sector," Journal of Environmental Economics and Management, Elsevier, vol. 52(2), pages 548-566, September. [Downloadable!] (restricted)
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