De l'usage optimal de divers types de ressources naturelles
A partial equilibrium analysis shows that a pool of natural resources with constant unit costs of extraction has to be exploited in strict increasing cost order. Kemp and Long  have shown that it is not necessarily the case in a general equilibrium framework. In a consumption-leisure trade-off model, we show that the optimal order of exploitation is never strict, and that for a set of model parameters, the resources exploitation paths may be inderteminate although the consumption-leisure paths are perfectly determinated.
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|Date of creation:||1995|
|Date of revision:|
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