Intertemporal Depletion of Resource Sites by Spatially Distributed Users

摘要

Mineral deposits and other exhaustible re- sources are scattered around the globe-as are their users. Yet the theory for analyzing deple- tion of such resources assumes that all resource sites and all users are located in the same place. When applying the theory, therefore, one is Forced to disregard what often seems to be an Important real-world consideration. Our pur- Pose here is to generalize Harold Hotelling's (1931)theory of exhaustible resources to ac- commodate situations in which resource sites and their users are spatially distributed.