Economics Research Institute Study Paper
Utah State University Department of Economics
Copyright for this work is held by the author. Transmission or reproduction of materials protected by copyright beyond that allowed by fair use requires the written permission of the copyright owners. Works not in the public domain cannot be commercially exploited without permission of the copyright owner. Responsibility for any use rests exclusively with the user. For more information contact the Institutional Repository Librarian at firstname.lastname@example.org.
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.