Skip to main content
Download PDF
- Main
Hotelling's Theory, Enhancement, and the Taking of the Redwood National Park
Abstract
We estimate a reduced form model of the redwood timber industry that is consistent with Hotelling's exhaustible resource theory. The consequences for this theory of various assumptions about the elasticity of expectations are derived. The estimated equations are used to test the hypotheses about expectations. We also use these equations to find the amount that owners of redwood not taken for the Redwood National Park benefited from the park's establishment.
Main Content
For improved accessibility of PDF content, download the file to your device.
Enter the password to open this PDF file:
File name:
-
File size:
-
Title:
-
Author:
-
Subject:
-
Keywords:
-
Creation Date:
-
Modification Date:
-
Creator:
-
PDF Producer:
-
PDF Version:
-
Page Count:
-
Page Size:
-
Fast Web View:
-
Preparing document for printing…
0%