Mineral Depletion and the Rules of Resource Dynamics
统一了确定性及不确定性下自然资源开采的条件,将其归纳为r百分比规则,即比较不采取不可逆行动的所有收益之和与利率,并强调Adelman对矿产枯竭的洞见隐含了这些时机规则。
Conditions of exploitation of natural resources under certainty and uncertainty in some canonical natural resource problems are unified as r-percent rules by which the sum of all sources of gain from refraining from an irreversible action is compared to the interest rate. Action is initiated once the gain from action equals the gain from inaction. Morris Adelman’s insights, succinctly presented his 1990 paper on mineral depletion, are highlighted as implicitly recognizing, and even being grounded by, these timing rules.