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2 edition of optimal extraction of a durable exhaustible resource found in the catalog.

optimal extraction of a durable exhaustible resource

David Chappell

optimal extraction of a durable exhaustible resource

by David Chappell

  • 202 Want to read
  • 24 Currently reading

Published by SheffieldUniversity Management School in Sheffield .
Written in English


Edition Notes

StatementDavid Chappell and Kevin Dowd.
SeriesDiscussion paper series, economics / Sheffield University Management School -- no.94.31, Discussion paper series, economics (Sheffield University Management School) -- no.94.31.
ContributionsDowd, Kevin.
ID Numbers
Open LibraryOL19559388M

  Purchase Essays in the Economics of Exhaustible Resources, Volume - 1st Edition. Print Book & E-Book. ISBN , Book Edition: 1. @article{osti_, title = {Pricing of durable exhaustible resources}, author = {Levhari, D and Pindyck, R S}, abstractNote = {Partial or total durability characterizes a large class of exhaustible resources. Hotelling's r-percent rule will apply to a durable resource produced in a competitive market, but will not apply if the resource is produced in a monopolistic market.

"On the Optimal Taxation of an Exhaustible Resource under Monopolistic Extraction," LERNA Working Papers , LERNA, University of Toulouse. Daubanes, J., " On the Optimal Taxation of an Exhaustible Resource Under Monopolistic Extraction," Discussion Paper , Tilburg University, Center for Economic Research. Downloadable (with restrictions)! This paper has two objectives. First, it reformulates the theory of optimal use of an exhaustible resource with more attention to the costs of extraction than has been customary in the literature. The output and shadow-price implications of optimal extraction are studied under these broader assumptions. Second, the paper provides some numerical solutions of a.

"Monopoly Extraction of an Exhaustible Resource with Two Markets," Discussion Papers dp, Resources For the Future. Earl A. Thompson, " Why World Oil Monopolization Lowers Oil Prices: A Theory of Involuntary Cartelization," UCLA Economics Working Papers , . Natural resource economics examines how society can more efficiently use its scarce natural resources, both non-renewable resources, such as minerals and fossil fuels, and We first consider the economic theory of optimal extraction on a non-renewable resource like oil or coal. The simplest setting is the so-called “cake-eating” problem File Size: KB.


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Optimal extraction of a durable exhaustible resource by David Chappell Download PDF EPUB FB2

The Optimal Extraction of Exhaustible Resources. Economic Policy Paper Federal Reserve Bank of Minneapolis. The Optimal Extraction of Exhaustible Resources. Conventional theory can’t explain historic commodity price fluctuations, but modified models may provide better guidance.

Chari University of Minnesota Federal Reserve Bank of by: 2. The Optimal Extraction of Exhaustible Resources Economic Policy Papers are based on policy-oriented research produced by Minneapolis Fed staff and consultants. The papers are an occasional series for a general audience.

The views expressed here are those of the authors, not necessarily those of others in the Federal Reserve System. The Optimal Depletion of Exhaustible Resources: A Complete Characterization. Hassan Benchekrouna and Cees Withagenb Abstract We provide the closed form solution to the Dasgupta-Heal-Solow-Stiglitz (DHSS) model.

The DHSS model is based on the seminal articles Dasgupta and Heal (Rev. Econ. Stud.,), Solow. introduced. In addition, the optimal depletion rates of exhaustible resources are lower with stochastic stock externalities, compared with their deterministic counterparts.

The remaining parts of the paper are organized as follows. Section 2 introduces a deterministic model of exhaustible resource depletion and its environmental externalities. TheFile Size: KB. The purpose of the paper is to find optimal extraction of exhaustible under resources taxes reform in China, and analyze the impact of reform uncertainty on resources exploitation.

The organization of the paper is as follows. Section 2 introduces our model and section 3 states the optimal extraction behavior when the uncertainty concerns the taxesAuthor: Shilong Ge, Qunwei Wang, Dequn Zhou.

Assuming in the perfectly competitive market, using the optimal control theory and making the social welfare as the maximization target, the paper studies on environment cost which impacts the optimal extraction path of exhaustible resource.

The special case result shows that: the time of optimal exhaustion increases with the addition of marginal environmental cost, the price has negative Author: Shu Zhi Yao, Xiao Xia Yan, Jin Suo Zhang.

Socially optimal exhaustible resource extraction and site reclamation is analysed. Optimal regulation consists of a pollution tax and a reclamation payment. A payment collected at the beginning of the extraction diminishes insolvency : Pauli Lappi. We contrast the supply condition governing the rate of extraction of durable exhaustible resources such as gold with rates of extraction of non-durable exhaustible resources such as oil.

In two simple general equilibrium models, Hotelling's rule governs supply for non-durable resources, but a distinct asset equilibrium condition governs the supply of durable exhaustible resources. exhaustible resources (see overview in Sect. “”). Nonetheless, many Literature review questions concerning their optimal extraction and pricing policies under a variety of specific assumptions remain unanswered.

The present paper deals with the determina-tion of optimal policies for a monopolist of a non-durable non-renewable resource using.

JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEM () On the Extraction of an Exhaustible Resource by a Monopoly MOHAMMED MOUSSAVIAN Department of Economics, Syracuse University, Syracuse, New York AND LARRY SAMUELSON' Department of Economics, The Pennsylvania State University, University Park, Pennsylvania Received Octo ; revised January and July Hotelling's r-percent rule does not hold for monopoly extractors Cited by: 5.

In this paper, a stochastic optimal model of the exploration of exhaustible resources has been established with the aim to maximize the profit of extraction and by the assumption that both the. We observe that the Euler equation characterizing optimal extraction of semi-durable exhaustible resources is an r o o rule of the familiar Hotelling type except defined in terms of stock prices as distinct from flow prices or by: 6.

The optimal extraction of a durable exhaustible resource. By D. Chappell, K Dowd and Sheffield Univ. (United Kingdom). Management School.

Abstract. SIGLEAvailable from British Library Document Supply Centre- DSC(SU-MS-DP) / BLDSC - British Library Document Supply CentreGBUnited Kingdo.

The Pricing of Durable Exhaustible Resources 1. Introduction Hotelling's r-percent growth rule for the price of an exhaustible resource has had only limited success in explaining the evolution of re-source prices. The prices of many exhaustible resources have experienced long secular declines, or more commonly, have fallen over a long period.

Thus, it is clear that the problem of finding the optimal extraction policy for a non-durable non-renewable resource is not much different from that of maximising the utility of a consumer having a given amount of income to spend, which, as it is known, leads to Gossen’s second by: 1.

Downloadable. Rapid increases in oil prices in led some to call for special taxes on the oil industry. Because oil is an exhaustible resource, however, the effects of excise taxes on production or on reported producer profits may be more complex than in many other markets.

This paper uses well-level production data on California oil wells for the periodalong with the rich.

Abstract. This article provides a brief overview of the ideas that have emerged in economics in connection with exhaustible resources. A resource is exhaustible if, the more we consume today, the less will be available for consumption at later dates.

J.L. Sweeney, in International Encyclopedia of the Social & Behavioral Sciences, 8 Depletable Resource Economics and the Transition to Renewable Resources. The study of depletable resource economics began with articles by Lewis Grey () and Harold Hotelling (), which examined economically intertemporal optimal extraction from a perfectly known stock of the resource, with.

Taxation and the Extraction of Exhaustible Resources: Evidence FromCalifornia Oil Production Nirupama S. Rao* MIT November, Abstract Rapid increases in oil prices in led some to call for special taxes on the oil industry.

Because oil is an exhaustible resource, however, the effects ofCited by: 3. This paper is aimed at describing the optimal extraction path of an exhaustible resource (coal) without and with CO 2 considerations. To do so Hotelling’s theory of optimal extraction of exhaustible resources is used, which determines how the net price for the resource should grow.

Coal was used as example of an exhaustible resource. In this paper, a stochastic optimal model of the exploration of exhaustible resources has been established with the aim to maximize the profit of extraction and by the assumption that both the price and the reserve of resource following the geometric Brownian motion.

The HJB equation of the model and its economics explanation are deduced. Moreover, it is shown that the price of the exhaustible.The problem of optimal growth with an exhaustible resource deposit under R.

M. Solow's criterion of maximum sustainable consumption rate, previously formulated as a minimum-resource-extraction Author: Frederic Wan.Optimal taxation of exhaustible resource under monopoly Article in Energy Economics 24(3) May with 9 Reads How we measure 'reads'.