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De l'usage optimal de divers types de ressources naturelles

Jean-Pierre Amigues (), Pascal Favard (), Gérard Gaudet () and Michel Moreaux

Annals of Economics and Statistics, 1997, issue 48, 147-189

Abstract: A partial equilibrium analysis shows that a pool of natural resources with constant unit costs of extraction has to be exploited in strict increasing cost order. Kemp and Long [1980] have shown that it is not necessarily the case in a general equilibrium framework. In a consumption-leisure trade-off model, we show that the optimal order of exploitation is never strict, and that for a set of model parameters, the resources exploitation paths may be inderteminate although the consumption-leisure paths are perfectly determinated.

Date: 1997
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Working Paper: De l'usage optimal de divers types de ressources naturelles (1995)
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