Discontinuous Extraction of a Nonrenewable Resource
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
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
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)
Journal Article: Discontinuous extraction of a nonrenewable resource (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hai:wpaper:200509
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