In this chapter we showed that the owner of an oil deposit in a fully competitive economy

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In this chapter we showed that the owner of an oil deposit in a fully competitive economy would keep his or her wealth constant and achieve the highest consistent level of constant consumption by following the Hartwick rule.

Show that this would also be the case for the sole owner of a fishery, given sustainable yield harvesting. Show that it would also be the case for someone owning an oil deposit and a fishery

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Natural Resource And Environmental Economics

ISBN: 9780321417534

4th Edition

Authors: Roger Perman, Yue Ma, Michael Common, David Maddison, James McGilvray

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