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Comment: The Economics of Interdependent Renewable and Non-renewable Resources revisited

Author

Listed:
  • Viktoria Kahui

    (Department of Economics, University of Otago)

  • Claire W. Armstrong

    (Norwegian College of Fisheries Science, University of Tromso, Norway)

Abstract

This work expands upon Swallow's theoretical analysis of interactions between renewable and non-renewable resources. In this comment the interaction is such that the renewable resource prefers the non-renewable environment, as opposed to SwallowÕs (op cit) case of the non-renewable environment being essential to the renewable resource. We find that this difference strongly affects the results, and makes the resources change from being complements to being substitutes, i.e. in the essential case profits from active development of the non-renewable resource come at the cost of reducing the optimal stock level for the renewable resource, while a preferred habitat implies the impacts of development can be offset by allowing for a larger renewable stock level.

Suggested Citation

  • Viktoria Kahui & Claire W. Armstrong, 2009. "Comment: The Economics of Interdependent Renewable and Non-renewable Resources revisited," Working Papers 0904, University of Otago, Department of Economics, revised May 2009.
    • Handle: RePEc:otg:wpaper:0904
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    More about this item

    Keywords

    bioeconomic analysis; interaction renewable non-renewable resource;

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General

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