Resource price dynamics with non-malleable extraction capital

Author(s)
Date Issued
1993
Journal
ISSN
0165-1765
Citation
Economics Letters, 1993, vol. 42(4), pp. 425-431.
DOI
URI
Type
Peer Reviewed Journal Article
Abstract
Non-renewable resource extraction is nearly always capital-intensive and extraction capital tends to be non-malleable. In thispaper we present and discuss a dynamic discrete-time model of resource extraction embodying non-malleable capital which can generate highly diverse patterns of price behaviour.
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