Natural Resource Economic Theory: An Application to Illinois Coal
Hewett, Roger Sargent
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https://hdl.handle.net/2142/70746
Description
Title
Natural Resource Economic Theory: An Application to Illinois Coal
Author(s)
Hewett, Roger Sargent
Issue Date
1984
Department of Study
Economics
Discipline
Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, General
Abstract
The major economic theories of natural resource extraction are reviewed critically. The current classical theories are shown to be in error. Appropriate classical and neoclassical models of resource extraction are developed and applied using Illinois coal mining data. The models are tested to evaluate their performance in predicting the location of mining activity within Illinois.
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