Natural Resource Economics

  1. Economics of Non-Renewable Resources
    1. Basic Depletion Models
      1. Two-Period Model
        1. Intertemporal Choice Framework
          1. Resource Allocation Between Periods
            1. Optimal Extraction Path
            2. Multi-Period Models
              1. Continuous Time Models
                1. Discrete Time Models
                2. Marginal User Cost
                  1. Definition and Calculation
                    1. Scarcity Rent Concept
                      1. Implications for Resource Pricing
                    2. The Hotelling Rule
                      1. Fundamental Principle
                        1. Mathematical Derivation
                          1. The r-Percent Growth Rule
                            1. Economic Interpretation
                              1. Assumptions of the Model
                                1. Perfect Competition
                                  1. Perfect Foresight
                                    1. Constant Marginal Extraction Cost
                                      1. No Technological Change
                                      2. Limitations and Criticisms
                                      3. Optimal Extraction Paths
                                        1. Competitive Market Extraction
                                          1. Price Path Determination
                                            1. Extraction Rate Determination
                                              1. Welfare Properties
                                              2. Monopolistic Extraction
                                                1. Market Power Effects
                                                  1. Monopoly vs Competitive Extraction
                                                    1. Welfare Implications
                                                      1. Consumer Surplus Effects
                                                      2. Factors Affecting Extraction
                                                        1. Interest Rate Changes
                                                          1. Technological Progress
                                                            1. New Resource Discoveries
                                                              1. Demand Shifts
                                                                1. Government Policies
                                                                  1. Resource Taxes
                                                                    1. Depletion Allowances
                                                                      1. Extraction Subsidies
                                                                        1. Environmental Regulations
                                                                    2. Resource Scarcity Measurement
                                                                      1. Physical Scarcity Indicators
                                                                        1. Reserve-to-Production Ratios
                                                                          1. Resource Lifetimes
                                                                            1. Depletion Rates
                                                                            2. Economic Scarcity Indicators
                                                                              1. Marginal Cost Analysis
                                                                              2. Resource Reserve Concepts
                                                                                1. Proven Reserves
                                                                                  1. Probable Reserves
                                                                                    1. Possible Reserves
                                                                                      1. Reserve Growth
                                                                                        1. Resource Base
                                                                                      2. Exploration and Discovery
                                                                                        1. Economics of Exploration
                                                                                          1. Discovery Process
                                                                                            1. Exploration Investment
                                                                                              1. Risk and Uncertainty

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                                                                                            3. Resource Classification and Characteristics

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                                                                                            5. Economics of Renewable Resources