This paper analyzes the optimal depletion policy for a country with a resource which is inexhaustible but available in various grades and at various costs. Cost is assumed to increase with cumulative extraction up to a point, but then to remain constant as a "backstop" supply is reached. This...

This article develops a model to analyze the implications of economies of scale in transportation for the spatial distribution of retail outlets and for the structure and pricing of public transportation systems. Consumers (or workers) are located around the circumference of a circle with a...