The Optimal Exploitation of Natural Resources when Conversion is Necessary

Chris Elbers and Cees Withagen

No 293061, University of Amsterdam, Actuarial Science and Econometrics Archive from University of Amsterdam, Faculty of Economics and Business

Abstract: It is sometimes argued that the order in which different deposits of a natural resource should be depleted is such that the cheapest deposit is exhausted first. We show that this is not universally true and that also the size of the depositsand the welfare criterion play an important role.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 15
Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:ags:amstas:293061

DOI: 10.22004/ag.econ.293061

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