On Two Folk Theorems Concerning the Extraction of Exhaustible Resources

DOI10.2307/1913129zbMATH Open0435.90041OpenAlexW1984499773MaRDI QIDQ3875673FDOQ3875673

Ngo Van Long, Murray C. Kemp

Publication date: 1980

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/1913129

zbMATH Keywords

general equilibriumoptimal resource extractionclosed economyRicardian techniques of extraction

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76)

Cited In (8)

• Specialization and non-renewable resources: Ricardo meets Ricardo
• On the optimal order of natural resource use when the capacity of the inexhaustible substitute is limited
• How many cake-eaters? Chouette, on a du monde à dîner !
• When additional resource stocks reduce welfare
• Perfect equilibrium timing of a backstop technology. Limit pricing induced by trigger zones
• Equilibrium transitions from non-renewable energy to renewable energy under capacity constraints
• On price taking behavior in a nonrenewable resource cartel-fringe game
• Does productive capital affect the order of resource exploitation?

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