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Discontinuous Extraction of a Nonrenewable Resource

Eric Im, Ujjayant Chakravorty () and James Roumasset ()
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Eric Im: Department of Economics, University of Hawaii at Hilo

No 200509, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: This paper examines the sequence of optimal extraction of nonrenewable resources in the presence of multiple demands. We provide conditions under which extraction of a nonrenewable resource may be discontinuous over the course of its depletion.

Keywords: backstop technology; dynamic optimization; energy resources; Herfindahl principle; multiple demands (search for similar items in EconPapers)
JEL-codes: Q3 Q4 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2005
New Economics Papers: this item is included in nep-ene, nep-env and nep-res
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http://www.economics.hawaii.edu/research/workingpapers/WP_05-9.pdf First version, 2004 (application/pdf)

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Journal Article: Discontinuous extraction of a nonrenewable resource (2006) Downloads
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