The Economics of Exhaustible Resources
E26024
The Economics of Exhaustible Resources is a seminal work in environmental and resource economics that develops the theoretical foundations for how societies should optimally use and manage finite natural resources over time.
Aliases (1)
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf |
academic monograph
→
book → |
| addresses |
conditions for optimal depletion paths
→
efficiency of resource use over time → long-run scarcity rents → policy instruments for managing exhaustible resources → price paths for nonrenewable resources → role of discounting in resource use → |
| appliesTo |
fossil fuels
→
minerals → other nonrenewable natural resources → |
| contribution |
analyzes welfare implications of different extraction policies
→
develops dynamic models of resource depletion → formalizes optimal extraction paths for finite resources → influences policy debates on nonrenewable resource management → links resource prices to scarcity over time → provides foundations for modern resource taxation analysis → |
| describedBy |
seminal work in environmental and resource economics
→
|
| field |
energy economics
→
environmental economics → resource economics → |
| focusesOn |
finite natural resources
→
optimal use of depletable resources → time paths of extraction and prices → trade-offs between present and future consumption of resources → |
| genre |
economic theory
→
|
| hasPerspective |
intertemporal welfare maximization
→
social planner optimization framework → |
| impact |
shaped theoretical foundations of resource economics
→
used as a reference for optimal depletion policy analysis → widely cited in environmental economics literature → |
| mainSubject |
Hotelling rule
→
exhaustible resources → intertemporal resource allocation → nonrenewable resources → optimal resource extraction → resource scarcity → social welfare maximization → |
| theoreticalBasisFor |
analysis of conservation policies
→
analysis of extraction quotas → analysis of resource taxation → analysis of royalty schemes → |
| usesMethod |
dynamic optimization
→
intertemporal choice models → mathematical modeling of resource extraction → |
Referenced by (4)
| Subject (surface form when different) | Predicate |
|---|---|
|
Harold Hotelling
("Hotelling rule")
→
Partha Dasgupta → |
notableWork |
|
Harold Hotelling
("Hotelling rule")
→
|
hasConceptNamedAfter |
|
The Economics of Exhaustible Resources
("Hotelling rule")
→
|
mainSubject |