Declining Exhaustible Resource Rent with Small, Distinct Extractive Firms

John M. Hartwick, Andrei V. Bazhanov and Zhen Song
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Zhen Song: Central University of Finance and Economics, Beijing

No 1139, Working Papers from Queen's University, Department of Economics

Abstract: 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.

Keywords: exhaustible resources; resource rent; competitive extraction (search for similar items in EconPapers)
JEL-codes: Q31 D41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-env
Date: 2007-11
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Persistent link: http://EconPapers.repec.org/RePEc:qed:wpaper:1139

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