Exhaustible resource allocation in an overlapping generations economy

Article Abstract:

Competitive allocations of exhaustible resources have been examined in an overlapping generations model (OLG). Partial equilibrium Hotelling-type models have been expanded to a general equilibrium framework to address questions about market allocation of resources and efficiency. The behavior of equilibrium resource extractions and prices are examined in the context of the relationship between preferences and technology. The OLG equilibria is found to demonstrate nonclassical behavior in cases where extractions do not continuously decrease over time.

Economics, Research and Development in the Social Sciences and Humanities, Econometrics & Model Building, Models, Econometrics, Resource allocation, Welfare economics, Equilibrium (Economics), Business models

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Sequencing and nesting in contingent valuation surveys

Article Abstract:

The indiscriminate use of the term embedding has led to confusion in the embedding debate. To solve this problem, an analytical framework based on the concepts of sequencing and nesting is proposed to clarify the connection between embedding and consumer behavior economic theory. The framework is used to classify the relationships of multiple goods in contingent valuation studies.

Sequential analysis, Statistical decision, Statistical decision theory

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