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010 hotelling optimum exhaustion of a non renewable resource

by Professor of Economics at Osmania University, Hyderabad on Nov 07, 2013

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In 1931, Hotelling showed how the rules that apply to the optimum extraction of a non renewable resource differ from that of a produced product, in perfect competition. Here the mine owner has to ...

In 1931, Hotelling showed how the rules that apply to the optimum extraction of a non renewable resource differ from that of a produced product, in perfect competition. Here the mine owner has to weigh the present price with the expected future price, if he wishes to conserve the resource.

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010 hotelling optimum exhaustion of a non renewable resource 010 hotelling optimum exhaustion of a non renewable resource Presentation Transcript