The Optimal Consumption of Depletable Natural Resources: An Elaboration, Correction, and Extension
M. L. Cropper, Milton C. Weinstein, Richard J. Zeckhauser
The Quarterly Journal of Economics · 1978 · Volume 92 · Issue 2
Abstract
I. Optimality of competitive markets with increasing marginal extraction costs—a correction and elaboration, 338.—II. Cases where extraction rights or extraction technologies must be traded, 341.—III. Conclusion, 343.
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