ISSN:
1573-1502
Keywords:
Endogenous technical change
;
thermodynamic limits
;
substitution
;
optimal resource extraction
;
copper mining
Source:
Springer Online Journal Archives 1860-2000
Topics:
Energy, Environment Protection, Nuclear Power Engineering
,
Economics
Notes:
Abstract Motivated by the lack of integrated approaches that do justice to both the thermodynamic and economic aspects of natural resource use and the lack of empirical studies combining the two disciplines, this paper provides an integrated framework for the valuation of technologies, substitution and technical change. The paper determines empirically the relationships between thermodynamic states of materials and the use of high-quality energy sources for the case of copper mining in the United States. The empirical analysis provides the basis for a nonlinear dynamic simulation of optimal resource extraction and endogenous technical change in the light of changing resource quality. The study assesses the potential for future improvements in U.S. copper mining.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF00691683
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