IDEAS home Printed from https://ideas.repec.org/a/rje/bellje/v11y1980ispringp212-236.html
   My bibliography  Save this article

A Dynamic Optimization Model of Depletable Resources

Author

Listed:
  • Eduardo M. Modiano
  • Jeremy F. Shapiro

Abstract

This article develops a dynamic optimization model to describe the supply of a depletable resource within an economy. An implementable version of the model is applied to the dynamic allocation of coal supply to the U.S. energy sector for the period 1979-2000. Several primary energy sources, including coal, oil, gas, and nuclear power, are considered in a linear programming process model of the energy-producing sector. The supply of coal appears to be particularly sensitive to the future pattern of nuclear power capacity escalation, and less so to escalations in oil import prices. The latter observation depends, however, on the rate of substitution of coal for oil and gas to process heat and petrochemicals.

Suggested Citation

  • Eduardo M. Modiano & Jeremy F. Shapiro, 1980. "A Dynamic Optimization Model of Depletable Resources," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 212-236, Spring.
    • Handle: RePEc:rje:bellje:v:11:y:1980:i:spring:p:212-236
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0361-915X%28198021%2911%3A1%3C212%3AADOMOD%3E2.0.CO%3B2-D&origin=repec
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sweeney, James L., 1993. "Economic theory of depletable resources: An introduction," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 17, pages 759-854, Elsevier.
    2. Watson, William D. & Lin, King & Browne, Thomas, 1999. "US policy instruments to protect coal-bearing fragile lands," Resources Policy, Elsevier, vol. 25(2), pages 125-140, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rje:bellje:v:11:y:1980:i:spring:p:212-236. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://www.rje.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.