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World oil: the growing case for international policy.

Can the economic theory of depletion be reconciled with low petroleum prices? This article uses a revision of the theory, which reflects demand functions that rise in response to increasing world population and income. The magnitude of producers' and consumers' surplus is estimated under both compet...

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Published in:Contemporary Economic Policy Vol. 18; no. 1; pp. 1 - 14
Main Authors: Chapman, Duane, Khanna, Neha
Format: Article
Published: Wiley-Blackwell January 2000
Subjects:
Economics
Game theory
Petroleum reserves
Petroleum product sales & prices
Present value
Resource exploitation
Consumers' surplus
Production (Economic theory)
Surplus (Economics)
Online Access:View this record in EBSCOhost