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The Economics of Exhaustible Resources

The International Library of Critical Writings in Economics series
Edited by Geoffrey Heal, Paul Garrett Professor of Public Policy and Corporate Responsibility, Graduate School of Business, Columbia University, US
Extent: 688 pp
Hardback Price: £229.00 Online: £206.10
Publication Date: 1993
ISBN: 978 1 85278 580 2
Availability: In Stock
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  • Economics and Finance
  • Environmental Economics
  • Public Sector Economics
  • Environment
  • Environmental Economics
‘Heal’s collection demonstrates clearly that the study of exhaustible resources is a useful part of many fields of economics. . . . It would be a wise purchase for campuses where this field is studied. . .’
– Philip B. Thompson, The Journal of Economics
Contributors include: G. Chichilnisky, P. Dasgupta, R.J. Gilbert, H. Hotelling, R.M. Solow, J. Stiglitz
CONTENTS

PART 1

THE THEORY OF OPTIMAL DEPLETION

1. Robert M. Solow (1974), ‘The Economics of Resources or the Resources of Economics’
2. Harold Hotelling (1931), ‘The Economics of Exhaustible Resources’
3. Partha Dasgupta and Geoffrey Heal (1974), ‘The Optimal Depletion of Exhaustible Resources’
4. Geoffrey Heal (1976), ‘The Relationship Between Price and Extraction Cost for a Resource with a Backstop Technology’
5. Partha Dasgupta, Geoffrey Heal and Mukul Majumdar (1976), ‘Resource Depletion and Research and Development’
6. Shmuel S. Oren and Stephen G. Powell (1985), ‘Optimal Supply of a Depletable Resource with a Backstop Technology: Heal’s Theorem Revisited’

PART 2

DYNAMIC MODELS OF RESOURCE MARKETS

7. J. E.Stiglitz (1979), ‘A Neoclassical Analysis of the Economics of Natural Resources’
8. Partha Dasgupta (1974), ‘Some Recent Theoretical Explorations in the Economics of Exhaustible Resources’
9. Joseph E. Stiglitz (1976), ‘Monopoly and the Rate of Extraction of Exhaustible Resources’
10. James L. Sweeney (1977), ‘Economics of Depletable Resources: Market Forces and Intertemporal Bias’
11. Richard J. Gilbert (1978), ‘Dominant Firm Pricing Policy in a Market for an Exhaustible Resource’
12. P. Dasgupta, G. M .Heal and J. E. Stiglitz (1980), ‘The Taxation of Exhaustible Resources’

PART 3

EMPIRICAL STUDIES AND SIMULATIONS

13. William D. Nordhaus (1973), ‘The Allocation of Energy Resources’
14. Robert S. Pindyck (1978), ‘Gains to Producers from the Cartelization of Exhaustible Resources’
15. Geoffrey Heal and Michael Barrow (1980), ‘The Relationship Between Interest Rates and Metal Price Movements’
16. Geoffrey Heal and Michael Barrow (1981), ‘Empirical Investigation of the Long-Term Movement of Resource Prices: A Preliminary Report’

PART 4

17. G. Chichilnisky (1985), ‘International Trade in Resources: A General Equilibrium Analysis’
18. Graciela Chichilnisky and Geoffrey Heal (1983), ‘Energy-Capital Substitution: A General Equilibrium Analysis’
19. William D. Nordhaus (1980), ‘Oil and Economic Performance in Industrial Countries’
20. John Llewelwyn (1983), ‘Resource Prices and Macroeconomic Policies: Lessons from Two Oil Price Shocks’

PART 5

ENVIRONMENT AND RESOURCES

21. Jeffrey A .Krautkraemer (1985), ‘Optimal Growth, Resource Amenities and the Preservation of Natural Environments’
22. G. M .Heal (1991), ‘Economy and Climate: A Preliminary Framework for Microeconomic Analysis’
23. Michael J. Boskin and Richard J. Gilbert (1976), ‘The Economic Common Sense of Controlling Nuclear Power Development’

PART 6

GENERAL ISSUES

24. R. Stephen Berry, Peter Salamon and Geoffrey Heal (1978), ‘On a Relation Between Economic and Thermodynamic Optima’
25. H.E .Goeller (1979), ‘The Age of Substitutability: A Scientific Appraisal of Natural Resource Adequacy’
26. Donald A. Brobst (1979), ‘Fundamental Concepts for the Analysis of Resource Availability’
27. V. Kerry Smith (1980), ‘The Evaluation of Natural Resource Adequacy: Elusive Quest or Frontier of Economic Analysis?’