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Economics of Production from Natural Resources
Abstract
This paper attempts to provide a unified theory of production from natural resources. A single model of an industry is used to describe a dynamic process of recovery from such technologically diverse resources as fish, timber, petroleum, and minerals. Recovery from each of these resources is seen as a special case of a general model, depending upon whether the resource is replenishable, and on whether production exhibits significant externalities. A model of centralized management, with particular reference to “common property” resources, such as fisheries, under stationary conditions, is also discussed and compared with competitive recovery in the stationary state. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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Citations
Cited by
ECONOMICS OF FORESTRY IN AN EVOLVING SOCIETY
SAMUELSON, P. A. (1976) · Economic Inquiry · doi:10.1111/j.1465-7295.1976.tb00437.x · Cited by 579
Adaptive Control of Fishing Systems
Walters, C. J., & Hilborn, R. (1976) · Journal of the Fisheries Research Board of Canada · doi:10.1139/f76-017 · Cited by 299
A multi-agent reinforcement learning model of common-pool resource appropriation
Perolat, J., Leibo, J. Z., Zambaldi, V., Beattie, C., Tuyls, K., & Graepel, T. (2017) · arXiv · doi:10.48550/arxiv.1707.06600 · Cited by 109
The Economics of Tropical Deforestation
Balboni, C., Berman, A., Burgess, R., & Olken, B. A. (2023) · Annual Review of Economics · doi:10.1146/annurev-economics-090622-024705 · Cited by 111
Metadata
- Authors
- Smith, V. L.
- Venue
- Classic Papers in Natural Resource Economics
- Publisher
- Palgrave Macmillan UK
- Published
- 1974
- Pages
- 279-303
- OpenAlex
- W1539285921
- Cited by
- 402
- References
- 0
- FWCI
- 116.67
- Type
- book chapter
- Language
- en
- Open access
- closed
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- Smith, V. L. (1974). Economics of Production from Natural Resources. Classic Papers in Natural Resource Economics. https://doi.org/10.1057/9780230523210_14
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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