| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
Fundamental Economics of Depletable Energy Supply
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| Autores: |
Krautkraemer, Jeffrey A.
Toman, Michael
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| Data: |
2005-10-25
|
| Ano: |
2003
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| Palavras-chave: |
Depletable resources
Energy
Intertemporal optimization
Resource /Energy Economics and Policy
Q4
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| Resumo: |
In this paper, we first present and discuss the basic logic underlying all neoclassical economic theories of "optimal" energy supply: maximization of the present value of some stream of economic returns. We then discuss how the economic theory of optimal resource depletion has evolved since Hotelling's classic 1931 article. We also consider the power of the theory to support improved empirical understanding of actual behavior. Our discussion of empirical literature indicates that this work has so far provided only limited empirical understanding.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
|
| Identificador: |
18463
http://purl.umn.edu/10842
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| Editor: |
AgEcon Search
|
| Relação: |
Resources for the Future>Discussion Papers
Discussion Paper 03-01
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| Formato: |
30
application/pdf
|
