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The Economics of Exploration for Non-renewable Resources

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  • Cairns, Robert D

Abstract

The literature on exploration for non-renewable resources is surveyed. Following a brief synopsis in section 2, section 3 focuses on issues related to the world market for resources. Section 4 considers more microeconomic supply-related issues linked to the exploration of the small region or play. Section 5 turns to the small but growing literature on explorations as a learning process related to R&D. The latter sections pay particular attention to empirical and policy aspects. Copyright 1990 by Blackwell Publishers Ltd

Suggested Citation

  • Cairns, Robert D, 1990. "The Economics of Exploration for Non-renewable Resources," Journal of Economic Surveys, Wiley Blackwell, vol. 4(4), pages 361-395.
    • Handle: RePEc:bla:jecsur:v:4:y:1990:i:4:p:361-95
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    Cited by:

    1. Eiji Sawada & Shunsuke Managi, 2014. "Effects of Technological Change on Non-renewable Resource Extraction and Exploration," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 3(1), pages 1-12, December.
    2. Emilio Castillo, 2020. "Mineral Exploration and the Discovery of New Deposits," Working Papers 2020-06, Colorado School of Mines, Division of Economics and Business.
    3. Smith, James L., 2013. "Issues in extractive resource taxation: A review of research methods and models," Resources Policy, Elsevier, vol. 38(3), pages 320-331.
    4. Krautkraemer, Jeffrey A. & Toman, Michael, 2003. "Fundamental Economics of Depletable Energy Supply," Discussion Papers 10842, Resources for the Future.
    5. Julien Daubanes & Pierre Lasserre, 2019. "The supply of non-renewable resources," Canadian Journal of Economics, Canadian Economics Association, vol. 52(3), pages 1084-1111, August.
    6. Julien Daubanes & Pierre Lasserre, 2011. "Optimum Commodity Taxation with a Non-Renewable Resource," CIRANO Working Papers 2011s-05, CIRANO.
    7. Petter Vegard Hansen, 2009. "Inflow Uncertainty in Hydropower Markets," Scandinavian Journal of Economics, Wiley Blackwell, vol. 111(1), pages 189-207, March.
    8. Eiji Sawada & Shunsuke Managi, 2013. "Non-renewable Resource Extraction with Extraction and Exploration Technologies," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-048, Keio/Kyoto Joint Global COE Program.
    9. Sunnevag, Kjell, 1998. "An option pricing approach to exploration licensing strategy," Resources Policy, Elsevier, vol. 24(1), pages 25-38, March.
    10. van der Meijden, Gerard & van der Ploeg, Frederick & Withagen, Cees, 2015. "International capital markets, oil producers and the Green Paradox," European Economic Review, Elsevier, vol. 76(C), pages 275-297.
    11. Gregor Schwerhoff & Martin Stuermer, 2015. "Non-renewable resources, extraction technology, and endogenous growth," Working Papers 1506, Federal Reserve Bank of Dallas.
    12. Fogarty, James J. & Sagerer, Simon, 2016. "Exploration externalities and government subsidies: The return to government," Resources Policy, Elsevier, vol. 47(C), pages 78-86.
    13. Hansen, James & Gross, Isaac, 2018. "Commodity price volatility with endogenous natural resources," European Economic Review, Elsevier, vol. 101(C), pages 157-180.
    14. Bell, Peter N, 2015. "Mineral exploration as a game of chance," MPRA Paper 62159, University Library of Munich, Germany.
    15. Castillo, Emilio & Roa, Cintia, 2021. "Defining geological maturity: The effect of discoveries on early-stage mineral exploration," Resources Policy, Elsevier, vol. 74(C).
    16. van der Ploeg, Frederick, 2016. "Second-best carbon taxation in the global economy: The Green Paradox and carbon leakage revisited," Journal of Environmental Economics and Management, Elsevier, vol. 78(C), pages 85-105.
    17. Chris Jeffords & Alexi Thompson & David Yerger, 2015. "Employment Booms and Busts Stemming from Nonrenewable Resource Extraction," International Journal of Energy Economics and Policy, Econjournals, vol. 5(3), pages 809-815.
    18. Julien Daubanes & Pierre Lasserre, 2012. "Non-Renewable Resource Supply: Substitution Effect, Compensation Effect, and All That," CIRANO Working Papers 2012s-28, CIRANO.
    19. Cairns, Robert D. & Van Quyen, Nguyen, 1998. "Optimal Exploration for and Exploitation of Heterogeneous Mineral Deposits," Journal of Environmental Economics and Management, Elsevier, vol. 35(2), pages 164-189, March.

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