Resource Extraction and Market Structure [Paperback]

I Dynamic Models of Resource Extraction in Markets of Monopoly or Pure Competition with Full Information.- 1. Hotellings Model.- 2. Optimal Extraction Rates and Exploration.- 2.1 Pure Competition.- 2.2 Monopoly.- 3. Optimal Extraction Rates and Constant Elasticity of Demand.- 4. Market Structure and Optimal Depletion Rates.- 4.1 Pure Competition.- 4.2 Monopoly.- 5. Extraction of an Exhaustible Resource and Production of a Substitute.- 5.1 Social Optimum.- 5.2 Extraction of the Resource and Production of the Substitute by the same Monopoly.- 5.3 Many Owners of the Resource and Production of the Substitute by Monopoly.- 5.4 Many Owners of the Resource and Production of the Substitute by all.- 6. Extraction of Durable Exhaustible Resources.- 6.1 Discrete Time.- 6.2 Continuous Time.- 6.2.1 Pure Competition.- 6.2.2 Monopoly.- 7. Conclusions.- II Dynamic Models with Uncertainty and Monopolistic Markets or Pure Competition.- 1. Optimal Extraction Rates and Uncertainty with Respect to R&D towards Future Technologies.- 1.1 Exogenous Technical Progress.- 1.1.1 Basic Model.- 1.1.2 First Extension: Production.- 1.1.3 Second Extension: Exhaustible Resources.- 1.1.4 Third Extension: Uncertainty about the Future Technological Development.- 1.2 Endogenous Technical Progress.- 1.2.1 Basic Model.- 1.2.2 Modification of the Basic Model.- 1.2.3 Example with Exponentially Distributed Z.- 2. Optimal Extraction Rates and Unknown Reserves.- 2.1 Monopolistic Extraction Rates Depending on Time only.- 2.2 Monopolistic Extraction Rates Depending on Time and Quantities already Extracted.- 2.3 Optimal Extraction Rates and Pure Competition.- 2.3.1 Basic Model.- 2.3.2 Example with Two Suppliers.- 2.4 Optimal Extraction Rates from Consumers View.- 2.4.1 Basic Model.- 2.4.2 Example with Exponentially Distributed Z.- 2.5 Pure Competition and Optimal Extraction.- 3. Optimal Extraction Rates and Unknown Costs of the Development of a Substitute.- 3.1 One-period Analysis and Monopoly.- 3.2 One-perilÁ