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A Note on Theoretical Issues on Resource Depletion

Lewis, Tracy R. (1975) A Note on Theoretical Issues on Resource Depletion. Social Science Working Paper, 91. California Institute of Technology , Pasadena, CA. (Unpublished) http://resolver.caltech.edu/CaltechAUTHORS:20171030-151654980

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Abstract

This note considers the optimal management of a non-renewable resource subject to depletion effects. It is demonstrated that even with depletion effects, if there are no non convexities in production it always pays to exhaust the resource, if it pays to exploit it at all.


Item Type:Report or Paper (Working Paper)
Additional Information:The author wishes to thank D.V.T. Bear, R. Robert Russel, Richard Schmalensee, and an anonymous referee for helpful suggestions in preparing this note.
Group:Social Science Working Papers
Record Number:CaltechAUTHORS:20171030-151654980
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20171030-151654980
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82791
Collection:CaltechAUTHORS
Deposited By: Jacquelyn Bussone
Deposited On:30 Oct 2017 22:53
Last Modified:30 Oct 2017 22:53

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