Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Jan, 1978, Volume 46, Issue 1

Extermination of Self-Reproducible Natural Resources under Competitive Conditions<219:EOSNRU>2.0.CO;2-C
p. 219-224

Michael Hoel

The present paper analyzes cropping of a self-reproducible natural resource under competitive conditions. Situations which may lead to extermination of the resource are described. In particular, it is shown that a production function with increasing returns to scale does not exclude the possibility of extermination, as suggested in [1].

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