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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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  1. Perron, P. & Bai, J., 1995. "Estimating and Testing Linear Models with Multiple Structural Changes," Cahiers de recherche 9552, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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  4. Margolis, D..N., 1995. "Firm Heterogeneity and Worker Self-Selection Bias Estimated Returns to Seniority," Cahiers de recherche 9502, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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  7. Boyer, Marcel & Laffont, Jean-Jacques, 1997. "Environmental risks and bank liability," European Economic Review, Elsevier, vol. 41(8), pages 1427-1459, August.
  8. 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.
  9. 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.
  10. D, S, Hosken & David Margolis, 1997. "The Efficiency of Collective Bargaining in Public School," Working Papers 97-55, Centre de Recherche en Economie et Statistique.
  11. repec:dgr:kubcen:199667 is not listed on IDEAS
  12. 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.
  13. Dionne, G. & Gollier, C., 1996. "A Model Of Comparative Statics For Changes in Stochastic Returns With Dependent Risky Assets," Papers 96.420, Toulouse - GREMAQ.
  14. 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.
  15. 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.
  16. 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.
  17. Yves Sprumont, 1998. "Equal factor equivalence in economies with multiple public goods," Social Choice and Welfare, Springer, vol. 15(4), pages 543-558.
  18. Bossaerts, P. & Ghysels, E. & Gourieroux, C., 1996. "Arbitrage-Based Pricing when Volatility is Stochastic," Cahiers de recherche 9615, Universite de Montreal, Departement de sciences economiques.
  19. 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.
  20. Dudley, L., 1996. "Communication and Economic Growth," Cahiers de recherche 9620, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  21. Kiviet, Jan F. & Dufour, Jean-Marie, 1997. "Exact tests in single equation autoregressive distributed lag models," Journal of Econometrics, Elsevier, vol. 80(2), pages 325-353, October.
  22. Dionne, G. & Fombaron, N., 1995. "Non-Convexities and Efficiency of Equilibria in Insurance Markets with Asymmetric Information," Cahiers de recherche 9531, Universite de Montreal, Departement de sciences economiques.
  23. Cardia, E. & Ambler, S., 1995. "Indexation Lags Heterodox Stabilization Programs," Cahiers de recherche 9504, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  24. Sprumont, Y., 1995. "On the Game-Theoretic Structure of Public-Good Economies," Cahiers de recherche 9519, Universite de Montreal, Departement de sciences economiques.
  25. 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.
  26. Bryan Campbell & Eric Ghysels, 1997. "An Empirical Analysis of the Canadian Budget Process," Canadian Journal of Economics, Canadian Economics Association, vol. 30(3), pages 553-76, August.
  27. 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.
  28. 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.
  29. 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.
  30. Blum, U. & Dudley, L., 1996. "The Rise and Decline of the East German Economy, 1949-1989," Cahiers de recherche 9616, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  31. 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.
  32. Ghysels, E. & Harvey, A. & Renault, E., 1996. "Stochastic Volatility," Cahiers de recherche 9613, Universite de Montreal, Departement de sciences economiques.
  33. Chakravorty, Ujjayant & Krulce, Darrell L, 1994. "Heterogeneous Demand and Order of Resource Extraction," Econometrica, Econometric Society, vol. 62(6), pages 1445-52, November.
  34. Ghysels, Eric & Guay, Alain & Hall, Alastair, 1998. "Predictive tests for structural change with unknown breakpoint," Journal of Econometrics, Elsevier, vol. 82(2), pages 209-233, February.
  35. 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.
  36. 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.
  37. Marcel Boyer & Philippe Mahenc & Michel Moreaux, 1995. "Entry Blockading Locations," CIRANO Working Papers 95s-51, CIRANO.
  38. Arcand, J.L. & Boulila, G. & Tritten, C., 1995. "Intergenerational Contracts, Remittances, and Growth," Cahiers de recherche 9543, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  39. Sprumont, Y., 1996. "Ordinal Cost Sharing," Cahiers de recherche 9624, Universite de Montreal, Departement de sciences economiques.
  40. Daniel Parent, 1995. "Matching, Human Capital, and the Covariance Structure of Earnings," CIRANO Working Papers 95s-25, 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. MARGOLIS, David N., 1995. "Cohort Effects and Returns to Seniority in France," Cahiers de recherche 9559, Universite de Montreal, Departement de sciences economiques.
  43. G. Dionne & T. Mounsif, 1996. "Investment under Demand Uncertainty : The Newsboy Problem Revisited," THEMA Working Papers 96-22, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  44. repec:ner:tilbur:urn:nbn:nl:ui:12-3107034 is not listed on IDEAS
  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. 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.
  47. Boyer, Marcel & Moreaux, Michel, 1996. "Capacity Commitment versus Flexibility," IDEI Working Papers 63, Institut d'Économie Industrielle (IDEI), Toulouse.
  48. 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.
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