The Optimal Consumption of Depletable Natural Resources
The Quarterly Journal of EconomicsPublished 1 August 1975
Milton C. Weinstein, Richard Zeckhauser
Citations146
SJR quartileQ1
SJR score35.99
SNIP9.32
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Abstract
I. Introduction, 371. — II. The simple model, 372. — III. Market equilibrium in the simple model, 375. — IV. The extended model — optimal and equilibrium allocation with nonzero extraction costs, 377. — V. Equilibrium with uncertain future demand, 381. — VI. Monopoly behavior, 387. — VII. Summary and conclusion, 389. — Appendix: proof of the optimality of the N-period market equilibrium under uncertainty if suppliers are risk-neutral, 390.
Keywords
Economics, Econometrics and FinanceEnergyEnvironmental Science