Εξαντλησιμότητα των φυσικών πόρων, κανόνας του hotelling και γραμικά συστήματα παραγωγής

Abstract

It is widely acknowledged in the literature that the derivation of Hotelling's Rule on the rate of
appreciation of natural resources is subject to heroic assumptions. This article focusses on one of these
limitations, that is the partial analytic framework. After a short description of the simple analytics of the
basic model is given, a generalisation to a disaggregated model based on the theory of production prices
of P. Sragga is attempted. It is shown that under more general assumptions concerning the general
equilibrium interdependence of the economy the application of Hotelling's Rule depends essentially on
the characterization of natural resources as non - basic commodities. The notion of exhaustability on natural
resources under such circumstances is not uniquely defined depending on the distribution of income in
the economy.