Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155056
Authors: 
Favard, Pascal
Year of Publication: 
2000
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 2. 2000
Abstract: 
The purpose of this paper is to show that in a general equilibrium framework it is never optimal to use high cost substitute after lower cost exhaustible resource even if it is possible to accumulate productive capital. Indeed if the high cost substitute is scarce it is always optimal to consume it simultaneously with a lower cost stock. Moreover it may be optimal to consume the high cost substitute before using a lower cost resource.
Subjects: 
Natural resources
substitute
productive capital
general equilibrium
JEL: 
Q3
Document Type: 
Working Paper

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