De l'usage optimal de divers types de ressources naturelles
Jean-Pierre Amigues (),
Pascal Favard (),
Gérard Gaudet () and
Annals of Economics and Statistics, 1997, issue 48, 147-189
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  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.
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Working Paper: De l'usage optimal de divers types de ressources naturelles (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1997:i:48:p:147-189
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