The Economics of Exhaustible Resources

The Economics of Exhaustible Resources

by Geoffrey Heal

ISBN-10: 1852785802

ISBN-13: 9781852785802

Pub. Date: 01/01/1993

Publisher: Elgar, Edward Publishing, Inc.

Product Details

Elgar, Edward Publishing, Inc.
Publication date:
The International Library of Critical Writings in Economics
Product dimensions:
6.69(w) x 9.45(h) x (d)

Table of Contents

Pt. IThe Theory of Optimal Depletion
1The Economics of Resources or the Resources of Economics3
2The Economics of Exhaustible Resources17
3The Optimal Depletion of Exhaustible Resources56
4The Relationship Between Price and Extraction Cost for a Resource with a Backstop Technology82
5Resource Depletion and Research and Development90
6Optimal Supply of a Depletable Resource with a Backstop Technology: Heal's Theorem Revisited113
Pt. IIDynamic Models of Resource Markets
7A Neoclassical Analysis of the Economics of Natural Resources131
8Some Recent Theoretical Explorations in the Economics of Exhaustible Resources162
9Monopoly and the Rate of Extraction of Exhaustible Resources184
10Economics of Depletable Resources: Market Forces and Intertemporal Bias191
11Dominant Firm Pricing Policy in a Market for an Exhaustible Resource208
12The Taxation of Exhaustible Resources219
Pt. IIIEmpirical Studies and Simulations
13The Allocation of Energy Resources245
14Gains to Producers from the Cartelization of Exhaustible Resources293
15The Relationship Between Interest Rates and Metal Price Movements307
16Empirical Investigation of the Long-Term Movement of Resource Prices: A Preliminary Report328
Pt. IVMacroeconomics, Trade and Resources
17International Trade in Resources: A General Equilibrium Analysis339
18Energy-Capital Substitution: A General Equilibrium Analysis390
19Oil and Economic Performance in Industrial Countries402
20Resource Prices and Macroeconomic Policies: Lessons from Two Oil Price Shocks461
Pt. VEnvironment and Resources
21Optimal Growth, Resource Amenities and the Preservation of Natural Environments479
22Economy and Climate: A Preliminary Framework for Microeconomic Analysis497
23The Economic Common Sense of Controlling Nuclear Power Development514
Pt. VIGeneral Issues
24On a Relation Between Economic and Thermodynamic Optima545
25The Age of Substitutability: A Scientific Appraisal of Natural Resource Adequacy558
26Fundamental Concepts for the Analysis of Resource Availability575
27The Evaluation of Natural Resource Adequacy: Elusive Quest or Frontier of Economic Analysis?612
Name Index654

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