| Author: | Krautkraemer, J. |
| Title: | Nonrenewable resource scarcity |
| Journal: | Journal of Economic Literature
1998 : DEC, VOL. 36:4, p. 2065-2107 |
| Index terms: | NATURAL RESOURCES ECONOMICS LITERATURE |
| Language: | eng |
| Abstract: | Hotelling's (1931) formal analysis of nonrenewable resource depletion generates some basic implications for how the finite availability of a nonrenewable resource affects the resource price and extraction paths. The economic intuition behind these implications is relatively straightforward. A stock of a nonrenewable asset can be viewed as an asset that generates return over time. |
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