Non-renewable Resource Extraction with Extraction and Exploration Technologies

Eiji Sawada and Shunsuke Managi
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Eiji Sawada: Keio Advanced Research Centers, Keio University

No 2012-048, Keio/Kyoto Joint Global COE Discussion Paper Series from Keio/Kyoto Joint Global COE Program

Abstract: This paper provides a new non-renewable resource extraction model with both extraction and exploration technologies. We show how these technological changes affect efficient non-renewable resource extraction differently. Policy-makers therefore need to carefully choose the type of technology by considering their properties.

Pages: 8 pages
Date: 2013-03
New Economics Papers: this item is included in nep-ene and nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:kei:dpaper:2012-048

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