Steady-state growth in a Hotelling model of resource extraction.

This paper re-examines the Hotelling model of optimal nonrenewable resource extraction in light of stock effects and technological progress. We assume functional forms for cost and demand so that the solution to the Hotelling problem is a steady-state consistent with the empirical observation that t...

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Bibliographic Details

Published in:	Journal of Environmental Economics & Management Vol. 54; no. 1; pp. 68 - 84
Main Authors:	Lin, C.-Y. Cynthia, Wagner, Gernot
Format:	Article
Published:	Academic Press Inc. July 2007
Subjects:	Hotelling, Harold, 1895-1973 Mathematical models Resource exploitation Minerals Natural resources Prices
Online Access:	View this record in EBSCOhost