The paper compares, and eventually combines, the approaches of Harold Hotelling and David Ricardo to the theory of exhaustible resources. It is argued that Hotelling and Ricardo had in mind worlds that differ in important respects. According to Ricardo the exploitation of deposits of resources...

The paper compares, and eventually combines, the approaches of Harold Hotelling and David Ricardo to the theory of exhaustible resources. It is argued that Hotelling and Ricardo had in mind worlds that differ in important respects. According to Ricardo the exploitation of deposits of resources...