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Thermodynamic implications for natural resource extraction and technical change in U.S. copper mining

  • Matthias Ruth
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    Motivated by the lack of integrated approaches that do justice to both the thermodynamic and economic aspects of natural resource use and the lack of empirical studies combining the two disciplines, this paper provides an integrated framework for the valuation of technologies, substitution and technical change. The paper determines empirically the relationships between thermodynamic states of materials and the use of high-quality energy sources for the case of copper mining in the United States. The empirical analysis provides the basis for a nonlinear dynamic simulation of optimal resource extraction and endogenous technical change in the light of changing resource quality. The study assesses the potential for future improvements in U.S. copper mining. Copyright Kluwer Academic Publishers 1995

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    File URL: http://hdl.handle.net/10.1007/BF00691683
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    Article provided by European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.

    Volume (Year): 6 (1995)
    Issue (Month): 2 (September)
    Pages: 187-206

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    Handle: RePEc:kap:enreec:v:6:y:1995:i:2:p:187-206
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100263

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    1. Kummel, Reiner, 1989. "Energy as a factor of production and entropy as a pollution indicator in macroeconomic modelling," Ecological Economics, Elsevier, vol. 1(2), pages 161-180, May.
    2. Ayres, Robert U., 1988. "Optimal investment policies with exhaustible resources: An information-based model," Journal of Environmental Economics and Management, Elsevier, vol. 15(4), pages 439-461, December.
    3. Faber, Malte & Proops, John & Ruth, Matthias & Michaelis, Peter, 1990. "Economy-environment interactions in the long-run: a neo-Austrian approach," Ecological Economics, Elsevier, vol. 2(1), pages 27-55, April.
    4. Hannon, Bruce & Ruth, Matthias & Delucia, Evan, 1993. "A physical view of sustainability," Ecological Economics, Elsevier, vol. 8(3), pages 253-268, December.
    5. Ruth, Matthias & Bullard, Clark W., 1993. "Information, production and utility," Energy Policy, Elsevier, vol. 21(10), pages 1059-1067, October.
    6. Islam, Saiful, 1985. "Effect of an essential input on isoquants and substitution elasticities," Energy Economics, Elsevier, vol. 7(3), pages 194-196, July.
    7. Lesourd, Jean-Baptiste, 1985. "Energy and resources as production factors in process industries," Energy Economics, Elsevier, vol. 7(3), pages 138-144, July.
    8. Dorfman, Robert, 1969. "An Economic Interpretation of Optimal Control Theory," American Economic Review, American Economic Association, vol. 59(5), pages 817-31, December.
    9. Ayres, Robert U. & Miller, Steven M., 1980. "The role of technological change," Journal of Environmental Economics and Management, Elsevier, vol. 7(4), pages 353-371, December.
    10. Ruth, Matthias, 1995. "Information, order and knowledge in economic and ecological systems: implications for material and energy use," Ecological Economics, Elsevier, vol. 13(2), pages 99-114, May.
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