Abstract
We further modify the basic model of Chap. 16 to include the concept of learning and subsequent technical change that reduces the cost of resource extraction. The firm learns as the resource is diminished.
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References
Ruth M (1993) Integrating economics, ecology and thermodynamics. Kluwer, Dortrecht
Ruth M (1995) Thermodynamic implications for natural resource extraction and technical change in U.S. copper mining. Environ Res Econ 6:187–206
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Ruth, M., Hannon, B. (2012). Competitive Scarcity with Technical Change. In: Modeling Dynamic Economic Systems. Modeling Dynamic Systems. Springer, Boston, MA. https://doi.org/10.1007/978-1-4614-2209-9_19
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DOI: https://doi.org/10.1007/978-1-4614-2209-9_19
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Print ISBN: 978-1-4614-2208-2
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