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Showing 1 to 1 of 1 for “"Hotelling's Rule"”.
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Computational Methods in Natural Resource Economics: Agent-Based Modeling and Hotelling's Rule
… a simple agent-based model against the basic Hotelling monopoly model and a few basic extensions. Hotelling's Rule identifes the expected behavior of a market for a nonrenewable resource. The statement is simple - marginal profit will increase at the prevailing rate of interest - but the …