Short communication. Economics of natural resources: in search of a unified theoretical framework

  • C. Romero Research Group “Economics for a Sustainable Environment”, Department of Forest Economics and Management, Forestry School, Ciudad Universitaria s/n, 28040 Madrid
Keywords: economic logic, environmental economics, Jevons principle

Abstract

This paper proposes a unified theoretical framework for dealing with the optimum economic use of any type of natural resource. After formulating and economically interpreting the unified framework, the basic rules governing the economic exploitation of the different natural resources can be easily obtained by particularizing the different values of its basic parameters. Taking this approach, it is easy to understand what commonalities there are, in terms of economic logic, between the different types of natural resources. This considerably increases the amount of consilience and understanding about the discipline.

Downloads

Download data is not yet available.

References

Faustmann M, 1849. Berechnung des Wertes welchen Waldoben sowie noch nicht haubare Holzbestände für die Waldwirtschaft besitzen. Allgemeine Forst- und Jagd-Zeitung 15: 441-445. [English version in J Forest Econ (1995) 1: 7-44].

Fisher AC, 1981. Resource and environmental economics. Cambridge Univ Press, Cambridge, UK. http://dx.doi.org/10.1017/CBO9780511572081

Gordon HS, 1954. The economic theory of a common property resource: the fishery. J Political Econ 62: 124-141. http://dx.doi.org/10.1086/257497

Hartman R, 1976. The harvesting decision when a standing forest has a value. Economic Inquiry 14: 52-58. http://dx.doi.org/10.1111/j.1465-7295.1976.tb00377.x

Hotelling H, 1934. The economics of exhaustible resources. J Political Econ 39: 137-175. http://dx.doi.org/10.1086/254195

Neher PA, 1990. Natural resources economics. Conservation and exploitation. Cambridge Univ Press, Cambridge, UK.

Pearce D, Turner RK, 1990. Economics of the natural resources and the environment. Harvester Wheatsheaf, NY.

Romero C, Rios V, Diaz-Balteiro L, 1998. Optimal forest rotation age when carbon captured is considered: theory and applications. J Opl Res Soc 49: 121-131.

Published
2012-01-30
How to Cite
Romero, C. (2012). Short communication. Economics of natural resources: in search of a unified theoretical framework. Spanish Journal of Agricultural Research, 10(1), 29-33. https://doi.org/10.5424/sjar/2012101-329-11
Section
Agricultural economics