Technology Adoption in the Presence of an Exhaustible Resource: The Case of Groundwater Extraction
整合技术扩散与Hotelling可耗尽资源模型，研究节水灌溉技术在地下水开采中的采纳过程，发现扩散曲线呈S形，且市场失灵导致扩散过慢，最优资源税可加速技术扩散并减缓资源耗竭。
Abstract In this paper we integrate technology diffusion within Hotelling's exhaustible resource model. The modern technology is a conservation technology such as drip irrigation used with groundwater. Resource quality heterogeneity and rising water prices are responsible for the gradual adoption of the modern technology, and under reasonable conditions the diffusion curve is an S‐shaped function of time. Without intervention, the diffusion process will be slower than is socially optimal, and optimal resource use tax will accelerate the diffusion of the conservation technology and slow down excessive resource depletion caused by market failure due to open access conditions.