Ordering the Extraction of Renewable Resources: the Case of Multiple Aquifers

Publication year: 2011 Source: Resource and Energy Economics, Available online 28 October 2011 James A. Roumasset, Christopher A. Wada Optimal sequencing of resource extraction is typically studied for nonrenewable resources. We provide conditions for optimal use of multiple sources of a renewable resource and characterize the resulting extraction sequence, resource scarcity values, and (single) efficiency price path for two groundwater aquifers and an abundant alternative resource

Publication year: 2011 Source: Resource and Energy Economics, Available online 28 October 2011 James A. Roumasset, Christopher A. Wada Optimal sequencing of resource extraction is typically studied for nonrenewable resources. We provide conditions for optimal use of multiple sources of a renewable resource and characterize the resulting extraction sequence, resource scarcity values, and (single) efficiency price path for two groundwater aquifers and an abundant alternative resource

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Ordering the Extraction of Renewable Resources: the Case of Multiple Aquifers

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