Depletion of natural resources, technological uncertainty, and the adoption of technological substitutes
Given an existing but unadopted backstop technology, this paper investigates the impact of uncertainty in the discovery date of superior backstop technologies on the rate of exhaustible resource depletion and adoption timing. Contrary to studies with a single backstop technology, the elevated rate o...
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| Veröffentlicht in: | Resource and energy economics 2005-06, Vol.27 (2), p.91-108 |
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| container_end_page | 108 |
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| container_issue | 2 |
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| container_title | Resource and energy economics |
| container_volume | 27 |
| creator | Just, Richard E. Netanyahu, Sinaia Olson, Lars J. |
| description | Given an existing but unadopted backstop technology, this paper investigates the impact of uncertainty in the discovery date of superior backstop technologies on the rate of exhaustible resource depletion and adoption timing. Contrary to studies with a single backstop technology, the elevated rate of resource price increase due to uncertainty persists beyond discovery of a backstop technology. The option value of waiting can justify putting off, possibly indefinitely, what would otherwise be a sound investment in current backstop technology. In other circumstances the resource is depleted more rapidly and adoption occurs sooner than if future discoveries were not anticipated. |
| doi_str_mv | 10.1016/j.reseneeco.2004.06.002 |
| format | Article |
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Desalination</subject><subject>Economic data</subject><subject>Energy</subject><subject>Energy economics</subject><subject>Exact sciences and technology</subject><subject>General, economic and professional studies</subject><subject>Increasing resistance</subject><subject>Pollution</subject><subject>Resource depletion</subject><subject>Resource management</subject><subject>Studies</subject><subject>Technological change</subject><subject>Uncertain discovery of technology</subject><subject>Uncertainty</subject><subject>Water treatment and pollution</subject><issn>0928-7655</issn><issn>1873-0221</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2005</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><recordid>eNqFkU1v1DAQhiMEEkvhNxAhwakJ4498HasCbaVKXOBsOc6Y9SprB9uptP-eWaUUwYXD2CP5mXfG7xTFWwY1A9Z-PNQRE3pEE2oOIGtoawD-rNixvhMVcM6eFzsYeF91bdO8LF6ldACABmDYFftPuMyYXfBlsKXXeY16LkkxrNFguiwzmr0Pc_jhDD2s3mDM2vl8uiy1n8q8x1JPYfmt8Dee1jFll9eM6XXxwuo54ZvH-6L4_uXzt-vb6v7rzd311X1lGsFyNXWd5KIVFq3QkonRgpCS2Xa0QyPNOI2Gw8gHBlpbNvRMWyl7YxmXjbbTKC6KD5vuEsPPFVNWR5cMzrP2GNakmOwka0AS-O4f8EB_9jSbIl3ZDtSdoG6DTAwpRbRqie6o40kxUGf71UE92a_O9itoFdlPlXdbZcQFzVMZIm68elBC846O0zmhfdDlzinFQjEwatCrfT6S1vvHUXUiW23U3rj0Z5S2azsBDXFXG4dk8IPDqJJxSCubXEST1RTcf-f-BQ3_um4</recordid><startdate>20050601</startdate><enddate>20050601</enddate><creator>Just, Richard E.</creator><creator>Netanyahu, Sinaia</creator><creator>Olson, Lars J.</creator><general>Elsevier B.V</general><general>Elsevier</general><general>Elsevier Sequoia S.A</general><scope>IQODW</scope><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7ST</scope><scope>7TA</scope><scope>8FD</scope><scope>C1K</scope><scope>JG9</scope><scope>SOI</scope></search><sort><creationdate>20050601</creationdate><title>Depletion of natural resources, technological uncertainty, and the adoption of technological substitutes</title><author>Just, Richard E. ; Netanyahu, Sinaia ; Olson, Lars J.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c531t-d7742363fef3a413bf03441f6bf954cbdbc20b2910aaf1981af448cf1245afdb3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2005</creationdate><topic>Applied sciences</topic><topic>Backstop technology</topic><topic>Desalination</topic><topic>Drinking water and swimming-pool water. Desalination</topic><topic>Economic data</topic><topic>Energy</topic><topic>Energy economics</topic><topic>Exact sciences and technology</topic><topic>General, economic and professional studies</topic><topic>Increasing resistance</topic><topic>Pollution</topic><topic>Resource depletion</topic><topic>Resource management</topic><topic>Studies</topic><topic>Technological change</topic><topic>Uncertain discovery of technology</topic><topic>Uncertainty</topic><topic>Water treatment and pollution</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Just, Richard E.</creatorcontrib><creatorcontrib>Netanyahu, Sinaia</creatorcontrib><creatorcontrib>Olson, Lars J.</creatorcontrib><collection>Pascal-Francis</collection><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>Environment Abstracts</collection><collection>Materials Business File</collection><collection>Technology Research Database</collection><collection>Environmental Sciences and Pollution Management</collection><collection>Materials Research Database</collection><collection>Environment Abstracts</collection><jtitle>Resource and energy economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Just, Richard E.</au><au>Netanyahu, Sinaia</au><au>Olson, Lars J.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Depletion of natural resources, technological uncertainty, and the adoption of technological substitutes</atitle><jtitle>Resource and energy economics</jtitle><date>2005-06-01</date><risdate>2005</risdate><volume>27</volume><issue>2</issue><spage>91</spage><epage>108</epage><pages>91-108</pages><issn>0928-7655</issn><eissn>1873-0221</eissn><abstract>Given an existing but unadopted backstop technology, this paper investigates the impact of uncertainty in the discovery date of superior backstop technologies on the rate of exhaustible resource depletion and adoption timing. 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| fulltext | fulltext |
| identifier | ISSN: 0928-7655 |
| ispartof | Resource and energy economics, 2005-06, Vol.27 (2), p.91-108 |
| issn | 0928-7655 1873-0221 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_14741504 |
| source | RePEc; Elsevier ScienceDirect Journals |
| subjects | Applied sciences Backstop technology Desalination Drinking water and swimming-pool water. Desalination Economic data Energy Energy economics Exact sciences and technology General, economic and professional studies Increasing resistance Pollution Resource depletion Resource management Studies Technological change Uncertain discovery of technology Uncertainty Water treatment and pollution |
| title | Depletion of natural resources, technological uncertainty, and the adoption of technological substitutes |
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