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On the profitability of exhausting natural resources
Umeå University, Faculty of Social Sciences, Department of Economics.
1977 (English)In: Journal of Environmental Economics and Management, ISSN 0095-0696, E-ISSN 1096-0449, Vol. 4, no 3, p. 185-199Article in journal (Refereed) Published
Abstract [en]

Two models are treated. One deals with a mineral deposit, the other with a biological substance. It is assumed that in the deposit there exist all grades of ore, and that, the biological substance grows as long as a positive quantity is left. The course of investment, and production decisions is derived when capital is expressly built up for the purpose of exploitation of the specific resource. Within the simple linear control problem it is concluded that exhaustion is never profitable. The steady state in the biological case is discussed and compared to maximum sustainable yield.

Place, publisher, year, edition, pages
1977. Vol. 4, no 3, p. 185-199
National Category
Economics
Identifiers
URN: urn:nbn:se:umu:diva-24562DOI: 10.1016/0095-0696(77)90001-8OAI: oai:DiVA.org:umu-24562DiVA, id: diva2:226700
Available from: 2009-07-03 Created: 2009-07-03 Last updated: 2017-12-13

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