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THE OPTIMAL CONSUMPTION OF DEPLETABLE NATURAL RESOURCES.

The article states that, under certain standard simplifying assumptions, the consumption stream of a depletable, nonreclaimable, nonreproducible resource that is produced by competitive market behavior does, in fact coincide with the socially efficient consumption stream in the U.S. In response to t...

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Published in:Quarterly Journal of Economics Vol. 89; no. 3; pp. 371 - 393
Main Authors: Weinstein, Milton C., Zeckhauser, Richard J.
Format: Article
Published: Oxford University Press / USA Aug75
Subjects:
Consumption (Economics)
Competition
Environmental policy
Externalities
Economic demand
Online Access:View this record in EBSCOhost