Duchin, Faye; Levine, Stephen H. - In: Journal of economic structures : JES; the official … 4 (2015), pp. 1-17
Resource prices rise when more costly sources need to be exploited. When the world price increases, owners of low-cost sources receive scarcity rents. The magnitude of the rents depends on the range of resource qualities being simultaneously exploited and can represent a substantial transfer of...
