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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Fig. 2 | Journal of Economic Structures

Fig. 2

From: Effects of Technological Change on Non-renewable Resource Extraction and Exploration

Fig. 2

Efficient schedules when technologies progress twice. Note that δ=0.05, λ 30 1 =5, k=0.5, a=25, b=0.5, A=250, α=2, β=0.5, γ=0.5 for all scenarios. a Time paths for the resource price when technology changes once every 10 years. In the no progress scenario, z t 1 = z t 2 =1 for t∈[0,29]. In the extraction progress scenario, z t 1 =1 for t∈[0,9], z t 1 =2 for t∈[10,19], z t 1 =250 for t∈[20,29] and z t 2 =1 for t∈[0,29]. In the exploration progress scenario, z t 1 =1 for t∈[0,29], z t 2 =1 for t∈[0,9], z t 2 =10 for t∈[10,19] and z 1 2 =50 for t∈[20,29]. b Time paths for the marginal revenue of resource extraction for the same parameters as used in a. c Time paths for explorative efforts for the same parameters as used in a

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