J. Hartwick

Non-Renewable Resources Extraction Programs and Markets (eBook, ePUB)

• Format: ePub

Produktbeschreibung

Considers the role of economics in discussions about the depletion of finite stocks of natural resources including oil.

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Produktdetails

• Verlag: Taylor & Francis
• Seitenzahl: 168
• Erscheinungstermin: 8. Oktober 2013
• Englisch
• ISBN-13: 9781136469497
• Artikelnr.: 39704455

Autorenporträt

J. Hartwick

Inhaltsangabe

1. INTRODUCTION
2. THE PRICE-TAKING RESOURCE-EXTRACTING FIRM
Introduction
Details of the Resource Extracting Firm
Asset Equilibrium Along Optimal Programs
The Output Constrained Firm and Initial Investments
Solving the Model of the Firm and Comparative Statics
A Production Function for Extraction for the Resource Extracting Firm
Uncertainty in the Future Value of a Parameter
Two Deposits of Uncertain Size Facing the Firm
Varying Quality of Ore in the Model of the Extracting Firm
3. A RESOURCE EXTRACTION INDUSTRY
Introduction
The Industry in Detail
Exhaustion of Finite Stocks and Society's Future
Solving the Hotelling Model and Comparative Statics
The Constant Elasticity of Demand (Zero Extraction Cost) Example
The Linear Demand (Constant Extraction Cost) Example
Quality Variation in the Industry Model
Many Certain Deposits with Distinct Constant Extraction Costs
Asset Equilibrium and Two Market Failures
Monopoly Extraction
4. THE BACKSTOP AND OLIGOPOLY
Introduction
The Backstop Supply and Extraction Programs
Uncertainty in the Date of Arrival of the Backstop
Oligopoly and Extraction Programs
Cournot Oligopoly with n Extracting Firms
A Dominant Seller and a Competitive Fringe
Oligopoly Under Alternative Solution Concepts
Oligopoly With Imperfect Property Rights for Stocks
5. EXPLORATION AND TAXATION
Introduction
The Firm Exploring Under Certainty
Uncertainty in Exploration by the Firm
Search and Rent Dissipation
Auctions and Resource Tract Sales
Taxation of Exhaustible Resources
6. ECONOMIC GROWTH AND EXHAUSTIBLE RESOURCES
Introduction
Accumulation of Reproducible Capital (Population and Technology Unchanging)
Investing Resource Rents
Population Growth and Technical Progress
Growth Without Extraction Costs (positive population growth with Neutral Technical Change)
Growth Accounting with Exhaustible Resources
7. THEORY AND FACTS (STYLIZED AND OTHERWISE)
References
Appendix I: Notes on the Historical Background to Rent on Exhaustible Resources
Appendix II: Economic Depreciation and Asset Equilibrium
Appendix III: Costly Exploration and Extraction
Index