This paper generalizes Hotelling's (1931) theory of nonrenewable resources to situations where resource pools and their users are distributed spacially. Extraction and transport costs are assumed to be linear in the rate of extraction, but utilization of each deposit may require a setup cost.
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Paper provided by Centre interuniversitaire de recherche en économie quantitative, CIREQ in its series Cahiers de recherche with number
9718.
Find related papers by JEL classification: Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General R10 - Urban, Rural, and Regional Economics - - General Regional Economics - - - General
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