In this paper we study both exhaustible and renewable resources in an endogenous growth model. In particular, we consider the hypotheses in which the rate of technical substitution (RTS) between those two inputs is or is not equal to one. Moreover, we depart from a basic theoretical framework to...

In this paper we investigate optimal harvesting of a renewable natural resource. While in the standard approach the resource is located at a single point in space we allow for the resource to be distributed over the plane. Consequently, an agent who exploits the resource has to travel from one...

Classic Papers in Natural Resource Economics brings together a choice selection of some of the most enduring academic writing published in this field in a single volume. The fourteen papers included in this book are grouped into five sections: the intertemporal problem; externalities and market...