Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/273259 
Authors: 
Year of Publication: 
2008
Series/Report no.: 
Working Paper Series No. W08:07
Publisher: 
University of Iceland, Institute of Economic Studies (IoES), Reykjavik
Abstract: 
The concept of natural resource rents is much used in the natural resource economics literature. It is therefore somewhat surprising that in this same literature it is difficult to find a clear definition of the concept. Possibly as a result, the concept is often loosely employed and in some texts it appears to be taken to be virtually synonymous with profits. The paper provides a definition of the concept of natural resource rents that is both unambiguous and in conformance with the more traditional concept of economic. A general expression for natural resource rents is derived as a function of the resource stock level, the rate of resource use and, its properties explored.
Subjects: 
Economic rents
natural resource rents
natural resource rents and profits
Document Type: 
Working Paper

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