Economic Theory of Natural Resources

Transcription

1 Economic Theory of Natural Resources

2 Economic Theory of Natural Resources Edited by W. Eichhorn, R. Henn, K. Neumann, and R.W. Shephard at the Universities of Karlsruhe/Germany and Berkeley /U.S.A. Springer-Verlag Berlin Heidelberg GmbH 1982

3 CIP-Kurztitelaufnahme der Deutschen Bibliothek Economic theory of natural resources / ed. by W. Eichhorn... - Würz burg ; Wien: Physica Verlag, NE: Eichhorn, Wolfgang [Hrsg.] All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means electronic, mechanical, photocopying, recording or otherwise, without the permission of the publisher. Springer-Verlag Berlin Heidelberg 1982 Ursprünglich erschienen bei Physica- VErlag, Rudolf Liebing GmbH + Co., Würzburg Softcover reprint of the hardcover 1st edition 1982 ISBN ISBN (ebook) DOI /

4 Preface 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 It contains 42 hitherto unpublished articles written by 56 authors from four of the five continents.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. We take this opportunity to acknowledge indebtedness to Stifting Volkswagenwerk (Volkswagen Foundation), Alfried Krupp von Bohlen und Halbach-Stiftung (Krupp Foundation) and Fritz Thyssen Stiftung (Thyssen Foundation) for providing the financial means to conduct a symposium on Natural Resources and Production (University of Karlsruhe, June 23 - July 4, 1980) at which oral presentations and discussions of several of the topics of this book first took place. In addition, the Alfried Krupp von Bohlen und Halbach-Stiftung provided the funds that made publication of this book possible. To all sponsors we express our sincere appreciation for their support. Karlsruhe and Berkeley October 1981 W. Eichhorn, R. Henn K. Neumann, R.W. Shephard Editors

5 Contents Preface 5 Part I: Depletion and Substitution Bhattacharya, G.: The Importance of I..eaming in Planning with Exhaustible Resources Blackorby, C, and W. Schwarm: Rationalizing the Use of Aggregates in Natural Resource Economics Hellwig, K., and H. Koge/schatz: Resource Extraction under Alternative Investment and Financing Opportunities Kemp, M C, and N V. Lang: On the Development of a Substitute for an Exhaustible Natural Resource Pethig, R.: Extraction and Recycling of Depletable Natural Resources Sauter-Servaes, F: A Note on Resource Use, Substitute Production, and Govemmental Intervention Part II: Locational Aspects and Fishery Beckmann, M.J.: Locational Aspects of Resource Depletion Gark, C W.: Concentration Profilesand the Production and Management of Marine Fisheries Haas, P., and C Hild: Linear Filter Methods: An Application to a Stock Produc tion Model Müller, G. 0.: A New Oil Search Technology and its Economic Relevance Nuske, M: Analysis of Marine Fishery SystemsBasedon Commercial Catch and Effort Data Part III: M.arkets and Prices Eichhorn, W., and K. Spremann: Efficient Pricing of Natural Resources and Intertemporal Externalities Höpfinger, E., and H.-P. Schwefel: Irade Between lndustrialized and Resource- Rich Countries: A Game-Theoretic Approach Jaksch, H.J.: Oligopolistic Supply on the World Cocoa Market Kemp, M C, and N V. Lang: The Efficiency of Competitive Markets in a Context of Exhaustible Resources Pflug, G., and G. Winckler: Speculation and Stability on Markets for Exhaustible Resources

6 Reiss, W., and F. Breyer: Variable Resource Endowments and the Convexity of the Attainable Consumption Set Schäfer, M.: The Extraction Rate of an Exhaustible Resource in an Oligopolistic Market... Schweizer, U., and T. von Ungem-Sternberg: Information and Payoffs in Auction Games... Trautmann, S.: Coordination of Optimal Exploitation Policies for Natural Resources.... Ulph, A.M. : Modeling Partially Cartelised Markets for Exhaustible Resources Part IV: Production and Growth Buchholz, W.: On the Possibility of Economic Growth with Exhaustible Resources... Diewert, W.E., and T.R. Lewis: The Comparative Dynamics of Efficient Programs of Capital Accumulation and Resource Depletion.... Ingham, A. : Leaming by Buming Ingham, A., D. Weiserbsand F. Melese: Unemployment Equilibria in a Small Resource Importing Economy with a Vintage Production Structure.... Krelle, W.: A Growth Model for the World Economy. Some Consequences for the Case of Exhaustible Resources.... Kümmel, R.: Energy, Environment and lndustrial Growth.... Ströbele, W.: Growth Models with Restrietions Conceming Energy Resources: An Attempt to ldentify Critical Parameters and Structural Features Part V: Environment and Welfare Dasgupta, S., and T. Mitra: On Some Problems in the Formulation of Optimum Population Policies when Resources are Depletable Hazilla, M., R.J. Kopp and V.K. Smith: The Performance of Neoclassical-Econometric Models in Measuring Natural Resource Substitution with Environmental Constraints Lupt{it:ik, M., and U. Schubert: Optimal Economic Growth and the Environment. 455 McKenzie, G.: Applied Welfare Indicators and the Economics of Exhaustible Resources Rentz, 0.: A Linear Model for the Determination ofpollution Control Cost in Industry Siebert, H.: Negative Extemalities, Environmental Quality and the Transformation Space Part VI: Energy-Modeling and Methodology Conrad, K.: Energy Substitution with Partially Fixed Factor Proportions Gool, W. van: Two-Factor and Multi-Factor Trade-Offs in Energy Conservation.. 515

7 /chimura, S.: The Global Energy Problemsand Japanese Crisis Management Policies Jansen, P.: Energy Policy Griented Modeling Conceming Restricted Energy Availability Menges, G.: Resource Extraction under Imperfect Information Rogner, H.-H.: IIASA Energy Modeling and Long-Term Scenarios Stahl, I.: Gaming: A New Methodology for the Study of Natural Resources Uebe, G.: Energy-Macro-Modeling in the Federal Republic of Germany Author Index Subject Index List of Contributors