Renewable and Non-Renewable Resource Extraction - a Comparison
What to Consider When Extracting Resources
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This work has a closer look at the differences between extraction of renewable and non-renewable resources. It does so, by starting with non-renewables and explaining the Hotelling Rule, the Two Period Extraction Model and also the Hubbert Curve. An example is provided with the extraction of Redwood Trees, before the second part of the text looks at renewable resource extraction. It therefore further specifies the role of the Wicksell Rule, Faustmann Rotation and takes the stock of a fishery as an example. The last part of the text finally looks at the main question: what are common features a...
This work has a closer look at the differences between extraction of renewable and non-renewable resources. It does so, by starting with non-renewables and explaining the Hotelling Rule, the Two Period Extraction Model and also the Hubbert Curve. An example is provided with the extraction of Redwood Trees, before the second part of the text looks at renewable resource extraction. It therefore further specifies the role of the Wicksell Rule, Faustmann Rotation and takes the stock of a fishery as an example. The last part of the text finally looks at the main question: what are common features and differences of different extraction concepts.
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