Abstract

FRANCO, Giovanni; GALLO, Adrián Felipe  and  FRANCO, steban. COLOMBIAN COAL AND HOTELLING MODEL . Rev.EIA.Esc.Ing.Antioq [online]. 2010, n.14, pp.64-74. ISSN 1794-1237.

In this paper a description of the relationship between economic thought and natural resources, especially those non-renewable, is presented. The Hotelling model is defined, with its mathematical approach and the respective graphical solution, which determines the optimal path of depletion of a non-renewable natural resource and an estimation of its market price. A general frame for the present situation and prospects for thermal coal in Colombia is the basis for the implementation of this model to this energy resource. Based on the proven reserves of thermal coal in Colombia and its demand function, time depletion and its trading price are determined.

Keywords : Hotelling model; coal; Colombia.

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