IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute Is Limited

  • Amigues, Jean-Pierre
  • Favard, Pascal
  • Gaudet, Gerard
  • Moreaux, Michel

Consider a general equilibrium framework where the marginal cost of extraction from several deposits of an exhaustible resource is constant in terms of an inexhaustible perfect substitute and differs between deposits. The instantaneous rate of production form the inexhaustible resource is subject to a capacity constraint.

(This abstract was borrowed from another version of this item.)

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.sciencedirect.com/science/article/pii/S0022-0531(98)92399-7
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 80 (1998)
Issue (Month): 1 (May)
Pages: 153-170

as
in new window

Handle: RePEc:eee:jetheo:v:80:y:1998:i:1:p:153-170
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

References listed on IDEAS
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.:

as in new window
  1. Lewis, Tracy R, 1982. "Sufficient Conditions for Extracting Least Cost Resource First," Econometrica, Econometric Society, vol. 50(4), pages 1081-83, July.
  2. Ghysels, E. & Harvey, A. & Renault, E., 1996. "Stochastic Volatility," Cahiers de recherche 9613, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  3. Robert Miguel W. K. Kollman, 1997. "The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities; A Quantitative Investigation," IMF Working Papers 97/7, International Monetary Fund.
  4. Bossaerts, P. & Ghysels, E. & Gourieroux, C., 1996. "Arbitrage-Based Pricing when Volatility is Stochastic," Cahiers de recherche 9615, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  5. Dionne, G. & Fombaron, N., 1995. "Non-Convexities and Efficiency of Equilibria in Insurance Markets with Asymmetric Information," Cahiers de recherche 9531, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  6. Georges Dionne & Claude Fluet, 1995. "Incentives in Multi-Period Regulation and Procurement: A Graphical Analysis," Cahiers de recherche du Département des sciences économiques, UQAM 9511, Université du Québec à Montréal, Département des sciences économiques.
  7. Dionne, G. & Mounsif, T., 1996. "Investment Under Demand Uncertainty: The Newsboy Problem Revisited," Cahiers de recherche 9610, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  8. Dionne, G. & Artis, M. & Guillen, M., 1995. "On the Repayment of Personal Loans under Asymmetrical Information: A Count Data Model Approach," Papers 9509, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
  9. Dufour, Jean-Marie & Kiviet, Jan F., 1996. "Exact tests for structural change in first-order dynamic models," Journal of Econometrics, Elsevier, vol. 70(1), pages 39-68, January.
  10. René Garcia & Serena Ng & Annamaria Lusardi, 1995. "Excess Sensitivity and Asymmetries in Consumption: An Empirical Investigation," CIRANO Working Papers 95s-09, CIRANO.
  11. Sprumont, Y., 1996. "Ordinal Cost Sharing," Cahiers de recherche 9624, Universite de Montreal, Departement de sciences economiques.
  12. Arcand, Jean-Louis, 1996. "Land-Ownership, Working Capital and Agricultural Output: Egypt 1913-58," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 5(1), pages 92-158, March.
  13. Kollman, R., 1996. "The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities: A Quantitative Investigation," Cahiers de recherche 9614, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  14. Arcand, J.L. & Boulila, G. & Tritten, C., 1995. "Intergenerational Contracts, Remittances, and Growth," Cahiers de recherche 9543, Universite de Montreal, Departement de sciences economiques.
  15. Dudley, L., 1996. "Communication and Economic Growth," Cahiers de recherche 9620, Universite de Montreal, Departement de sciences economiques.
  16. Daniel Parent, 1995. "Matching, Human Capital, and the Covariance Structure of Earnings," CIRANO Working Papers 95s-25, CIRANO.
  17. Fortin, N.M. & Lemieux, T., 1996. "Rank Regressions, Wage Distributions and the Gender Gap," Cahiers de recherche 9607, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  18. Sprumont, Y., 1996. "Equal Factor Equivalence in Economies with Multiple Public Goods," Cahiers de recherche 9627, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  19. Boyer, Marcel & Mahenc, Philippe & Moreaux, Michel, 1995. "Entry Blockading Locations," IDEI Working Papers 53, Institut d'Économie Industrielle (IDEI), Toulouse.
  20. Dionne, Georges & Gollier, Christian, 1996. "A Model of Comparative Statics for Changes in Stochastic Returns with Dependent Risky Assets," Journal of Risk and Uncertainty, Springer, vol. 13(2), pages 147-62, September.
  21. David Margolis, 1995. "High Wage Workers and High Wage Firms," Post-Print halshs-00378229, HAL.
  22. Ruge-Murcia, F.J., 1995. "Government Expenditure and the Dynamics of High Inflation," Cahiers de recherche 9529, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  23. Perron, P. & Bai, J., 1995. "Estimating and Testing Linear Models with Multiple Structural Changes," Cahiers de recherche 9552, Universite de Montreal, Departement de sciences economiques.
  24. BOYER, Marcel & MOREAUX, Michel, 1995. "Capacity Commitment Versus Flexibility: The Technological Choice Nexus in a Strategic Context," Cahiers de recherche 9556, Universite de Montreal, Departement de sciences economiques.
  25. Yves Sprumont, 1998. "On the Game-Theoretic Structure of Public-Good Economies," International Journal of Game Theory, Springer, vol. 26(4), pages 455-472.
  26. Cardia, E. & Ambler, S., 1995. "Indexation Lags Heterodox Stabilization Programs," Cahiers de recherche 9504, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  27. Ghysels, E. & Guay, A. & Hall, A., 1995. "Predictive Tests for Structural Change with Unknown Breakpoint," Cahiers de recherche 9524, Universite de Montreal, Departement de sciences economiques.
  28. Hosken, D.S. & Margolis, D.N., 1996. "The Efficiency of Collective Bargaining in Public Schools," Cahiers de recherche 9609, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  29. David Margolis, 1996. "Cohort Effects and Returns to Seniority in France," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00353897, HAL.
  30. J. Dufour, 1995. "Some Impossibility Theorems in Econometrics with Applications to Instrumental Variables, Dynamic Models and Cointegration," SFB 373 Discussion Papers 1995,27, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  31. Kichian, M. & Garcia, R. & Ghysels, E., 1995. "On the Dynamic Specification of International Asset Pricing Models," Cahiers de recherche 9544, Universite de Montreal, Departement de sciences economiques.
  32. Boyer, Marcel & Laffont, Jean-Jacques, 1994. "Environmental Risks and Bank Liability," IDEI Working Papers 45, Institut d'Économie Industrielle (IDEI), Toulouse.
  33. Campbell, B. & Ghysels, E., 1995. "An Empirical Analysis of the Canadian Budget Process," Cahiers de recherche 9523, Universite de Montreal, Departement de sciences economiques.
  34. Blum, U. & Dudley, L., 1996. "The Rise and Decline of the East German Economy, 1949-1989," Cahiers de recherche 9616, Universite de Montreal, Departement de sciences economiques.
  35. Seierstad, Atle, 1984. "Sufficient conditions in free final time optimal control problems. A comment," Journal of Economic Theory, Elsevier, vol. 32(2), pages 367-370, April.
  36. Dufour, J.M. & Kiviet, J.F., 1995. "Exact Tests in Single Equation Autoregressive Distributed Lag Models," Cahiers de recherche 9549, Universite de Montreal, Departement de sciences economiques.
  37. Weitzman, Martin L., 1976. "The optimal development of resource pools," Journal of Economic Theory, Elsevier, vol. 12(3), pages 351-364, June.
  38. Jean Mercenier & Philippe Michel, 1995. "Temporal aggregation in a multi-sector economy with endogenous growth," Working Papers 554, Federal Reserve Bank of Minneapolis.
  39. Jean-Marie Dufour & Jan F. Kiviet, 1998. "Exact Inference Methods for First-Order Autoregressive Distributed Lag Models," Econometrica, Econometric Society, vol. 66(1), pages 79-104, January.
  40. Kollmann, R., 1995. "Mark Up Fluctuations in U.S. Manufacturing and Trade: New Empirical Evidence Based on a Model of Optimal Storage," Cahiers de recherche 9526, Universite de Montreal, Departement de sciences economiques.
  41. Margolis, D..N., 1995. "Firm Heterogeneity and Worker Self-Selection Bias Estimated Returns to Seniority," Cahiers de recherche 9502, Universite de Montreal, Departement de sciences economiques.
  42. Ghysels, E. & Gourieroux, C. & Jasiak, J., 1995. "Market Time and Asset Price Movements: Theory and Estimation," Cahiers de recherche 9536, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  43. Chakravorty, Ujjayant & Krulce, Darrell L, 1994. "Heterogeneous Demand and Order of Resource Extraction," Econometrica, Econometric Society, vol. 62(6), pages 1445-52, November.
  44. van Geldrop, Jan H. & Withagen, Cees A. A. M., 1993. "General equilibrium and international trade with exhaustible resources," Journal of International Economics, Elsevier, vol. 34(3-4), pages 341-357, May.
  45. Kemp, Murray C & Long, Ngo Van, 1980. "On Two Folk Theorems Concerning the Extraction of Exhaustible Resources," Econometrica, Econometric Society, vol. 48(3), pages 663-73, April.
  46. Robert M. Solow & Frederic Y. Wan, 1976. "Extraction Costs in the Theory of Exhaustible Resources," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 359-370, Autumn.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:eee:jetheo:v:80:y:1998:i:1:p:153-170. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.