Reading list
In addition to the readings below, all printed lecture notes that are posted on the website of the course are part of the syllabus.
Textbook
Perman, R., Y. Ma, J. McGilvray and M. Common: Natural Resource and Environmental Economics, Third Ed. . Harlow, England: Pearson Education Ltd. Chapters 1, 2, 3, 14, 15, 17, 18. (pdf)
Perman et al. Fourth edition: Natural resource and environmental economics, 2011. Pearson education Ltd. ISBN: 978-0-321-41753-4. Chapters 1, 2, 3, 14, 15, 17, 18.
Articles for lectures/seminars
Hotelling, H. (1931): “The Economics of Exhaustible Resources”, Journal of Political Economy, 39 (2); 137-175.(pdf)
Dasgupta, P., R. Eastwood and G. Heal (1978): “Resource Management in a Trading Economy”, Quarterly Journal of Economics 92 (2), 297-306.(pdf)
Stiglitz, J.E. (1976): “Monopoly and the Rate of Extraction of Exhaustible Resources”, American Economic Review 66 (4), 655-661.(pdf)
Hartwick, J.M. (1977): “Intergenerational Equity and the Investing of Rents from Exhaustible Resources”, American Economic Review 67 (5), 972‐974.(pdf)
Solow, R.M. (1986): “On the Intergenerational Allocation of Natural Resources”, Scandinavian Journal of Economics 88 (1), 141-149.(pdf)
Hoel, M. (1978): "Resource Extraction, Uncertainty and Learning", Bell Journal of Economics 9 (2), 642-645.(pdf)
Kumar, R.C. (2005): “How to eat a cake of unknown size: A Reconsideration”, Journal of Environmental Economics and Management 50 (2), 408-421.(pdf)
Harstad, B. and M. Liski (2012): “Games and Resources”. In J. Shogren (ed.) Encyclopedia of Energy, Natural Resource, and Environmental Economics (pdf)
Lund, D. (2009): Rent Taxation for Nonrenewable Resources, Annual Review of Resource Economics, 1, 287-307.(pdf)
Førsund, F.R. (2013), Hydropower Economics: An Overview. In J. Shogren (ed.) Encyclopedia of Energy, Natural Resource, and Environmental Economics; Volume 1: Energy; pp. 200-208. http://www.sciencedirect.com/science/article/pii/B9780123750679000954
Hoel, M. and T.M. Sletten (2016): Climate and forests: The tradeoff between forests as a source for producing bioenergy and as a carbon sink, Resource and Energy Economics, 43 (1), 112-129. (pdf)
Additional teaching material (Will be available later in the semester)
Vislie, J. (2016): On Intertemporal Optimization and Dynamic Efficiency: From discrete to continuous time (the maximum principle), Working paper. (pdf)
Hoel, M. (2016): Optimal control theory with applications to resource and environmental economics, Memorandum, Department of Economics. (pdf)
Lund, D. (2014): State participation and taxation in Norwegian petroleum: Lessons for others?, Energy Strategy Reviews, 3, 49-54. (pdf)