Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/147190
Authors: 
Sawada, Eiji
Managi, Shunsuke
Year of Publication: 
2014
Citation: 
[Journal:] Journal of Economic Structures [ISSN:] 2193-2409 [Volume:] 3 [Year:] 2014 [Pages:] 1-12
Abstract: 
This paper provides a non-renewable resource extraction model with both technological change and resource exploration. Especially, we consider two types of technology, extraction technology and exploration technology. We show how these technologies affect efficient non-renewable resource extraction differently. Then, progress in extraction technology drops marginal revenue of extraction and resource price by changing the structure of those dynamics, while progress in exploration technology drops marginal revenue of extraction and resource price remaining the structure of those dynamics. Finally, we illustrate the difference becomes significant when innovative technologies are developed using numerical examples.
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/2.0/
Document Type: 
Article
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