Der Mensch treibt Raubbau an der Natur, er verbraucht zu viel Energie, zu viele Rohstoffe, zu viel Land. Kurzum: Die jetzigen Wirtschafts- und Lebensweisen der Menschheit, zumal bei uns im Westen, sind nicht nachhaltig. Wer würde diesem Urteil widersprechen? Die Indizien scheinen doch...

We employ a large dataset of physical inventory data on 21 different commodities for the period 1993-2011 to empirically analyze the behaviour of commodity prices and their volatility as predicted by the theory of storage. We examine two main issues. First, we explore the relationship between...

This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards...