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Results tagged with nonrenewable-resources
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user 10376
4
votes
1
answer
292
views
Extraction and royalty time path for a non-renewable resource under a monopolist assumption
I am trying to understand the time path of extraction and royalty (price) for a non-renewable resource under a monopolist framework.
The problem is that in the main books on environmental/resource eco …
- 307
3
votes
1
answer
114
views
If Y=K+C, why the value of a marginal unit of capital is the same of the value of a marginal...
In a simple model of welfare dynamic optimisation with non-renewable natural resource where:
$$
\dot S_t = -R_t
$$
$$
\dot K_t = Q(K_t,R_t)-C_t
$$
one of the first order condition is that $P_t=\omeg …
- 307
2
votes
Interpretation of the growth rate of consumption in a simple one-good model
I got stock with this problem for days.
The fact is that in a statical analysis, increasing $Q_K$ reduces consumption. But in a dynamic analysis, increasing $Q_K$ means more capital is saved and henc …
- 307
3
votes
3
answers
816
views
Interpretation of the growth rate of consumption in a simple one-good model
In Perman et al. "The efficient and optimal use of natural resources" it is presented a simple single-good model of welfare dynamic optimisation with non-renewable natural resource where:
Obj:
$$
max …
- 307