Discontinuous extraction of a nonrenewable resource

    Authors

    E. I. Im; U. Chakravorty;J. Roumasset

    Comments

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    Abbreviated Journal Title

    Econ. Lett.

    Keywords

    backstop technology; dynamic optimization; energy resources; Herfindahl; principle; multiple demands; ORDER; Economics

    Abstract

    This paper examines the sequence of optimal extraction of nonrenewable resources in the presence of multiple demands. We provide conditions under which extraction of a nonrenewable resource may be discontinuous over the course of its depletion. (c) 2005 Elsevier B.V. All rights reserved.

    Journal Title

    Economics Letters

    Volume

    90

    Issue/Number

    1

    Publication Date

    1-1-2006

    Document Type

    Article

    Language

    English

    First Page

    6

    Last Page

    11

    WOS Identifier

    WOS:000234625400002

    ISSN

    0165-1765

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