Natural Resource Economics: Notes and Problems

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Cambridge University Press, Nov 27, 1987 - Business & Economics - 231 pages
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In this book, Jon Conrad and Colin Clark develop the theory of resource economics.
 

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Contents

Resource allocation and optimization
1
no constraints
2
equality constraints
3
113 Lagrange multipliers
6
114 Economic interpretation
8
115 Static optimization with inequality constraints
11
12 An extension of the method of Lagrange multipliers to dynamic allocation problems
13
13 Dynamic programming
22
210 Problems
97
Nonrenewable resources
117
the case of a single mine
123
a more detailed analysis
127
323 The social optimum with N firms
129
33 Scarcity from an economic perspective
130
34 Exploration
131
35 Problems
135

14 Continuoustime problems and the maximum principle
25
15 Discounting
31
16 Some numerical and graphical techniques
40
162 Newtons method
41
163 Eigenvalues
45
164 Eigenvectors
48
165 Numerical solution of differential equations
49
166 Computation of separatrices
52
17 Problems
56
Renewable resources
62
22 Production and yield functions
64
23 Objectives of management
70
231 Constant prices
72
24 Optimal steady state and approach dynamics
73
241 Constant prices
74
242 Downward sloping demand
77
25 Spawnerrecruit models
78
26 Optimal investment strategy
81
27 Commonproperty resources
88
271 Overcapacity
90
28 The theory of resource regulation
92
29 Optimal forest rotation
96
Environmental management
146
42 Static externality
147
43 Dynamic externality
157
the case of fixed proportions
158
432 Optimal treatment and discharge
159
433 Resource depletion and residual accumulation
161
a model of residual transport
165
45 Problems
170
Stochastic resource models
176
51 Stochastic dynamic programming
178
52 A Spawnerrecruit model
182
521 Risk aversion
188
522 Other types of fluctuation
189
523 Imperfect state information
191
54 Groundwater management with stochastic recharge
194
55 Learning Bayesian updating and search
197
56 Fishing as a search problem
202
57 Irreversible development
209
58 Problems
214
References
225
Index
229
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