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

  • Amigues, J-P
  • Favard, P
  • Gaudet, G
  • Moreaux, M

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.

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File URL: http://hdl.handle.net/1866/2090
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Paper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number 9628.

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Length: 16 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:mtl:montde:9628
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  7. Marcel Boyer & Jean-Jacques Laffont, 1994. "Environmental Risks and Bank Liability," CIRANO Working Papers 94s-22, CIRANO.
  8. BOYER, Marcel & MOREAUX, Michel & MAHENC, Philippe, 1995. "Entry Blockading Locations," Cahiers de recherche 9555, Universite de Montreal, Departement de sciences economiques.
  9. Fortin, N.M. & Lemieux, T., 1996. "Rank Regressions, Wage Distributions and the Gender Gap," Cahiers de recherche 9607, Universite de Montreal, Departement de sciences economiques.
  10. DIONNE, Georges & MOUNSIF, Tahar, 1996. "Investment Under Demand Uncertainty: the Newsboy Problem Revisited," Cahiers de recherche 9610, Universite de Montreal, Departement de sciences economiques.
  11. 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.
  12. Marcel Boyer & Michel Moreaux, 1995. "Capacity Commitment Versus Flexibility: The Technological Choice Nexus in a Strategic Context," CIRANO Working Papers 95s-35, CIRANO.
  13. Mercenier, J. & Michel, P., 1995. "Temporal Aggregation in a Multi-Sector Economy with Endogenous Growth," Cahiers de recherche 9540, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  14. Yves Sprumont, 1998. "Equal factor equivalence in economies with multiple public goods," Social Choice and Welfare, Springer, vol. 15(4), pages 543-558.
  15. Garcia, R. & Lusardi, A. & Ng, S., 1995. "Excess Sensitivity and Asymmetries in Consumption: An Empirical Investigation," Cahiers de recherche 9511, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  16. Arcand, J.L. & Boulila, G. & Tritten, C., 1995. "Intergenerational Contracts, Remittances, and Growth," Cahiers de recherche 9543, Universite de Montreal, Departement de sciences economiques.
  17. Lewis, Tracy R, 1982. "Sufficient Conditions for Extracting Least Cost Resource First," Econometrica, Econometric Society, vol. 50(4), pages 1081-83, July.
  18. Dionne, G. & Fluet, C., 1995. "Incentives in Multi-Period Regulation and Procurement : a Graphical Analysis," Cahiers de recherche 9533, Universite de Montreal, Departement de sciences economiques.
  19. David N. Margolis, 1995. "Cohort Effects and Returns to Seniority in France," CIRANO Working Papers 95s-46, CIRANO.
  20. Daniel S. Hosken & David N. Margolis, 1996. "The Efficiency of Collective Bargaining in Public Schools," CIRANO Working Papers 96s-10, CIRANO.
  21. Sprumont, Yves, 1998. "Ordinal Cost Sharing," Journal of Economic Theory, Elsevier, vol. 81(1), pages 126-162, July.
  22. Bossaerts, Peter & Ghysels, Eric & Gourieroux, Christian, 1996. "Arbitrage-Based Pricing When Volatility is Stochastic," Working Papers 977, California Institute of Technology, Division of the Humanities and Social Sciences.
  23. 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.
  24. Dufour, J.M., 1995. "Some Impossibility Theorems in Econometrics with Applications to Instrumental Variables, Dynamic Models and Cointegration," Cahiers de recherche 9539, Universite de Montreal, Departement de sciences economiques.
  25. Ruge-Murcia, F.J., 1995. "Government Expenditure and the Dynamics of High Inflation," Cahiers de recherche 9529, Universite de Montreal, Departement de sciences economiques.
  26. Kichian, M. & Garcia, R. & Ghysels, E., 1995. "On the Dynamic Specification of International Asset Pricing Models," Cahiers de recherche 9544, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  27. Daniel Parent, 1995. "Matching, Human Capital, and the Covariance Structure of Earnings," CIRANO Working Papers 95s-25, CIRANO.
  28. 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.
  29. Eric Ghysels & Alain Guay & Alastair Hall, 1995. "Predictive Tests for Structural Change with Unknown Breakpoint," CIRANO Working Papers 95s-20, CIRANO.
  30. Kollman, R., 1996. "The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities: a Quantitative Investigation," Cahiers de recherche 9614, Universite de Montreal, Departement de sciences economiques.
  31. Campbell, B. & Ghysels, E., 1995. "An Empirical Analysis of the Canadian Budget Process," Cahiers de recherche 9523, Universite de Montreal, Departement de sciences economiques.
  32. Dufour, J.M. & Kiviet, J.F., 1995. "Exact Inference Methods for First-Order Autoregressive Distributed Lag Models," Cahiers de recherche 9547, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  33. 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.
  34. 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.
  35. 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.
  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. Sprumont, Y., 1995. "On the Game-Theoretic Structure of Public-Good Economies," Cahiers de recherche 9519, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  38. Chakravorty, Ujjayant & Krulce, Darrell L, 1994. "Heterogeneous Demand and Order of Resource Extraction," Econometrica, Econometric Society, vol. 62(6), pages 1445-52, November.
  39. 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.
  40. David N. Margolis, 1995. "Firm Heterogeneity and Worker Self-Selection Bias Estimated Returns to Seniority," CIRANO Working Papers 95s-04, CIRANO.
  41. Dionne, G. & Aris, M. & Guillen, M., 1995. "On the Repayment of Personal Loans Under Asymmetrical Information: A Count Data Model Approach," Cahiers de recherche 9528, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  42. Dionne, G. & Fombaron, N., 1995. "Non-Convexities and Efficiency of Equilibria in Insurance Markets with Asymmetric Information," Papers 9510, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
  43. Ghysels, E. & Gourieroux, C. & Jasiak, J., 1995. "Market Time and Asset Price Movements: Theory and Estimation," Cahiers de recherche 9536, Universite de Montreal, Departement de sciences economiques.
  44. 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.
  45. 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.
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