Economics Research Institute Study Paper
Utah State University Department of Economics
In this paper we provide several GAMS- and Excel-based resource-extraction models that can be used in an intermediate-level natural-resource economics course to numerically solve a host of exhaustible- and replenishable-resource problems, and thereby help verify the intuition and symbolic solutions provided in the textbook. The specific textbook from which the examples are drawn is Tietenberg (2003).
Caplan, Arthur J., "Seeing is Believing: Simulating Resource-Extraction Problems With Gams Ide and Microsoft Excel in an Intermediate-Level Natural-Resource Economics Course" (2004). Economic Research Institute Study Papers. Paper 284.