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Declining Exhaustible Resource Rent with Small, Distinct Extractive Firms


  • John Hartwick

    () (Queen's University)

  • Andrei Bazhanov

    (Far Eastern National University, Vladivostok)

  • Zhen Song

    (Central University of Finance and Economics, Beijing)


We consider a competitive extraction industry comprising many small firms, each with a slightly different quality of mineral holdings. With "rapidly" declining quality of holding per firm we observe rent declining over and interval. We do not work with the planning solution, commonly invoked in the study of firms with distinct qualities of stock.

Suggested Citation

  • John Hartwick & Andrei Bazhanov & Zhen Song, 2007. "Declining Exhaustible Resource Rent with Small, Distinct Extractive Firms," Working Papers 1139, Queen's University, Department of Economics.
  • Handle: RePEc:qed:wpaper:1139

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    References listed on IDEAS

    1. John Livernois & Patrick Martin, 2001. "Price, scarcity rent, and a modified r per cent rule for non-renewable resources," Canadian Journal of Economics, Canadian Economics Association, vol. 34(3), pages 827-845, August.
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    More about this item


    exhaustible resources; resource rent; competitive extraction;

    JEL classification:

    • Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition

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