Economic Theory of Natural Resources

Abstract

As a consequence of the ever increasing economic problems connected with the depletion of natural resources, the Iiterature on the subject has grown rapidly within the past decade.Since this Iiterature is scattered throughout a great nurober of international journals, it is very difficult to obtain an impression of the present state of the art.Therefore it is desirable that from time to time books should appear that offer a representative part of the newest results of research on the subject.This book offers such material, in addition to some excellent earlier monographs.It contains 42 hitherto unpublished articles written by 56 authors from four of the five continents.Each paper has been reviewed by two anonymous referees.Consequently, the articles of this book are revisions or, in many cases, revised revisions of the original papers.The contributions are organized in six parts.Part I contains six papers on resource extraction, substitute production and recycling.Special interest is concentrated on learning in planning with exhaustible resources and on aggregation in resource economics.Five papers on locational aspects of resource search and depletion and on the production and management of marine fisheries have been included in Part II.Turning next to markets and prices in the context of natural resources, Part III consists of ten contributions involving nationalandinternational markets as weil as oligopolistic and competitive ones.In this connection, problems of efficiency and nonefficiency of markets and prices are treated.Part IV contains seven articles on production or growth models with special emphasis on natural resources.The six papers of Part V are devoted to topics concerning environment and welfare that are influenced by problems ernerging from natural resources.The concluding Part VI consists of eight studies on energy-modeling and methodology.

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