<p> 1</p><p>Updated 18.02.04</p><p>ECON4925 Resource economics, Spring 2004 </p><p>Olav Bjerkholt: </p><p>Lecture notes on the Theory of Non-renewable Resources</p><p>References Adelman, M.A., 1993: Modelling world oil supply, Energy Journal 14, 1-32. *Andersen, P., 1983: "On rent of fishing grounds": a translation of Jens Warming's 1911 article, with an introduction, " History of Political Economy 15(3), 391-396. Arrow, K. 1965: Aspects of the Theory of Risk-Bearing (Yrjö Jahnsson Lectures), Helsinki. Aslaksen I. and K. Roland, 1983: Oljeøkonomi (Utarbeidet på grunnlag av forelesninger av Michael Hoel og Steinar Strøm, høsten 1981), Memorandum fra Sosialøkonomisk institutt, No. 14, 19. september 1983 Barnett, H.J. and C. Morse, 1963: Scarcity and Growth: The Economics of Natural Resource Availability, Baltimore: Johns Hopkins University Press. *Bjerkholt, O. and E. Gjelsvik, 1992: “Common Carriage for natural gas: the producers’ perspective”, in Hope, E. and S. Strøm (eds.): Energy Markets and Environmental Issues: A European Perspective, Scandinavian University Press, 1992. Bjerkholt, O., 1990: The value of exhaustible natural resources when price is exogenous and stochastic, unpublished note. Bjerkholt, O., E. Gjelsvik and Ø. Olsen, 1990: ”The Western European gas market: deregulation and supply competition”, in Bjerkholt, Olsen and Vislie (1990), 3- 28. Bjerkholt, O., Ø. Olsen and J. Vislie (eds.), 1990: Recent Modelling Approaches in Applied Energy Economics, London: Chapman and Hall. Dasgupta, P.S. and G.M. Heal, 1979: Economic Theory and Exhaustible Resources, Cambridge University Press. Davis, J., Ossowski, R., Daniel, J., and Barnett, S. 2001: Stabilization and Savings Funds for Nonrenewable Resources. Experience and Fiscal Policy Implications, IMF Occasional Paper, 205. [Ch.II “Nonrenewable Resource Revenues: Policy Implications”, 4-7, Ch.III “Funds and Their Rationale”, 8-12. Farzin, Y.H., 1992: The time path of scarcity rent in the theory of exhaustible resources, Economic Journal 102, 813-831. Fisher, A., 1981: Resources and Environmental Economics, Cambridge University Press. Gelb, A. et al., 1988: Oil Windfalls. Blessing or Curse?, World Bank/Oxford University Press. [Ch. 2 “Theoretical Approaches to the Analysis of Windfalls Effects”, 14- 31. Gray, L.C., 1914: Rent under the assumption of exhaustibility, Quarterly Journal of Economics 28, 466-489. Hammond, P., A. Seierstad, A. Strøm and K. Sydsæter. 2003: Further Mathematics for Economic Analysis, Chapter 11. 2</p><p>Hoel, M., 1978: Resource extraction, substitute products and monopoly, Journal of Economic Theory 19, 28-37. *Hoel, M., B. Holtsmark and J. Vislie, 1990: “The European gas market as a bargaining game”, in Bjerkholt, Olsen and Vislie (1990), Ch.3, 49-66. *Hotelling, H., 1931: The economics of exhaustible resources, Journal of Political Economy 39, 137-175. *Hveding, V., 1968: "Digital simulation techniques in power system planning", Economics of Planning 8 (1-2), 118-139. *Krautkraemer, J.A., 1998: Nonrenewable resource scarcity, Journal of Economic Literature 36, 2065-2107. Lasserre, P., 1991: Long-Term Control of Exhaustible Resources, Chur, Switzerland: Harwood Academic Publishers. Newbery, D.M.G., 1981: Oil price cartels and the problem of dynamic inconsistency, Economic Journal 21, 617-646. *Miller, M.H. and C.W. Upton, 1985: A test of the Hotelling valuation principle, Journal of Political Economy 93, 1-24. *Perman, R., Y. Ma, J. McGilvray and M. Common, 2003: Natural Resource & Environmental Economics, Third Edition, Harlow, England: Pearson Education Ltd. *Pindyck, R.S., 1980: Uncertainty and exhaustible resource markets, Journal of Political Economy 88, 1203-1225. *Salant, S., 1976: Exhaustible resources and industrial structure: a Nash-Cournot approach to the world oil market, Journal of Political Economy 84, 1079-1093. *Samuelson, P. A., 1976: "Economics of forestry in evolving societies," Economic Inquiry 466-492. Slade, M., 1982: Trends in natural resource commodity prices; an analysis of the time domain, Journal of Environmental Economics and Management 9, 122-137. Smith, V.K., 1979: Natural Resource Scarcity: A Statistical Analysis, Review of Economics and Statistics 61, No.3, 423-427. *Solow, R. M., 1986: "On the intergenerational allocation of natural resources," Scandinavian Journal of Economics 88(1), 141-149. Sydsæter, K., A. Seierstad og A. Strøm, 2002: Matematisk analyse, Bind 2, 4.utg., Kap. 12 og 13. Sydsæter, K., A. Strøm and P.Berck, 2000: Economists’ Mathematical Manual, 3.ed., Chapter 16. Ulph, A.M, 1982: “Modelling partially cartelized markets for exhaustible resources” in H. Eichhorn, R. Henn, U. Neumann and R.W. Shephard (eds.): Economic Theory of Natural Resources, Physica-verlag, Würburg-Wien, 269-291. *Ulph, A.M. and G.M. Folie, 1980: Exhaustible resources and cartels: an intertemporal Nash-Cournot model, The Canadian Journal of Economics 13, 645-658. Varian, H., 1992: Microeconomic Analysis, Third edition, Norton. *Vislie, J., 1990: “Bargaining, vertical control, and (de)regulation in the European gas market”, in Bjerkholt, Olsen and Vislie (1990), Ch.4, 67-86.</p>