The Social Cost of Sub-Soil Resource Use

摘要: This paper presents a market-price-based method to value sub-soil resources in environmental Cost-Benefit Analysis and Life Cycle Assessment. The market price incorporates the privileged information of agents, explicitly or implicitly anticipating future applications resource, backstop technologies, recycling potentials, evolution reserves extraction costs. is therefore considered as best available integrated reflecting actual values these parameters. Our based on Hotelling rule fact that private agents discount costs benefits at higher rate than society whole. In practice, last resource unit sold calculated with using rate. Then, depletion retropolated social smaller resulting corrected “socially optimal” price. allows calculate cost exhaustion, which applicable applied mineral fossil results are compared other recent methods seek place monetary depletion.