| 来源类型 | Article
|
| 规范类型 | 其他
|
| DOI | 10.1016/0095-0696(88)90037-X
|
| Optimal investment policies with exhaustible resources: An information-based model. |
| Ayres RU
|
| 发表日期 | 1988
|
| 出处 | Journal of Environmental Economics and Management 15 (4): 439-461
|
| 出版年 | 1988
|
| 语种 | 英语
|
| 摘要 | An information-based model of the “optimal control” type is developed using concepts from information theory to explore the dynamics of fossil resource exhaustion and the phenomenon of substitution by other forms of capital and technological knowledge. All exhaustible resources stocks and forms of capital (and knowledge) are taken to be equivalent to forms of information in the physical sense. It is shown that, with optimal policies, the planning period, or cycle, has several distinct phases, with different optimal investment patterns. The model has two important qualitative implications: (1) economic growth rates are inherently discontinuous and (2) the model predicts an evolutionary structural change, viz., the creation of a new sector in response to the progressive exhaustion (or obsolescence) of previously essential resources or capital stocks. A multiperiod extension is suggested, leading to a tentative explanation for the Kondratieff long-wave phenomenon. |
| 主题 | Theory of Manufacturing (TOM)
|
| URL | http://pure.iiasa.ac.at/id/eprint/12584/
|
| 来源智库 | International Institute for Applied Systems Analysis (Austria)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/127006
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推荐引用方式
GB/T 7714 |
Ayres RU. Optimal investment policies with exhaustible resources: An information-based model.. 1988.
|
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