Optimal recycling of minerals can be thought of as an integral part of the theory of the mine. In this paper, we consider the role that wastewater recycling plays in the optimal extraction of groundwater, a renewable resource. We develop a two-sector dynamic optimization model to solve for the...

Inasmuch as water demand is multifaceted, infrastructure planning should be part of a general specification of efficient quantities and qualities of water deliveries over time. Accordingly, we develop a two-sector dynamic optimization model to solve for the optimal trajectories of groundwater...

The terms “royalty”, “marginal user cost”, and “scarcity rent” are often used interchangeably in resource economics, resulting in considerable confusion. We suggest distinct and meaningful definitions for the terms “royalty”, “marginal user cost”, and “scarcity rent” and...