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2008, iss. 19, pp. 45-50
Microeconomic aspects of exploiting non-restorable resources
University of Novi Sad, Faculty of Economy, Subotica
Keywords: non-restorable resources; Hotelling rule; production resources rent; capitalized value; interest rate
Abstract
The work considers the complex problems of dynamic optimization of exploiting resources that are not restorable. The analysis starts from the so-called Hotelling rule, the base for the theory of dynamism of exploiting these resources. Taking into consideration the appropriative suppositions and limitations, as well as the application of contemporary mathematical analysis, the work attempts to define the basic models of exploiting resources that are not restorable and accepting the postulates of market strategies applied in macroeconomic analysis. The final part of the work points to the limitations and implementation of defined models, as well as other open questions of exploiting non-restorable resources.
References
Nordhaus, W.D. (1973) The allocation of energy resources. Brooking Papers on Economic Activity, 529-576
Schuman, J. (1998) A mikroökonómiai elmélet alapvonásai / Osnove mikroekonomske analize. Segedin: JATE Press
Šuvakov, T.M., Šagi, A. (1998) Mikroekonomski ogledi. Novi Sad: Offsetprint
 

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article language: Serbian
document type: Review Paper
published in SCIndeks: 16/06/2008

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