Non-Renewable Resources and Disequilibrium Macrodynamics: 1st Edition (Paperback) book cover

Non-Renewable Resources and Disequilibrium Macrodynamics

1st Edition

By Robert Marks


358 pages

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Paperback: 9781138090552
pub: 2019-04-24
Hardback: 9781138090545
pub: 2017-10-19
eBook (VitalSource) : 9781315108599
pub: 2017-10-17
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This study, first published in 1979, continues by examining the question of whether a competitive economy can efficiently allocate a stock of non-renewable natural resources through time. Long-run analyses of competitive economies with such resources have concluded that, without perfect foresight or a complete set of future markets extending infinitely far into the future, there is no economic mechanism to guarantee that the initial price is set so that the economy converges to the socially desirable path of balanced growth. This title will be of interest to students of environmental and natural resource economics.

Table of Contents

1. Introduction 2. The Basic Model 3. A Simple Fix-Price Disequilibrium Model 4. Price Adjustments in the Disequilibrium Model 5. Expectations and the Supply of Resource Flow 6. Conclusion

About the Series

Routledge Library Editions: Environmental and Natural Resource Economics

The volumes in this set, originally published between 1972 and 2000, draw together research by leading academics in the area of environmental and natural resource economics, and provides a rigorous examination of related key issues. The volumes examine pollution control and policy, and renewable and non-renewable resource economics, whilst also exploring the general principles and practices of environmental economics in various countries. This set will be of particular interest to students of economics and geography.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economics / General
BUSINESS & ECONOMICS / Industries / Natural Resource Extraction
BUSINESS & ECONOMICS / Environmental Economics