See MeadowsD., The Limits to Growth (New York: Universe Books, 1972); and ForresterJ. W., World Dynamics (Cambridge, Mass.: Wright Allen, 1971).
2.
See GordonR. L., “A Reinterpretation of the Pure Theory of Exhaustion,”Journal of Political Economy (June 1967), pp. 274–285; and HotellingH., “The Economics of Exhaustible Resources”Journal of Political Economy (April 1931), pp. 137–175.
3.
See HerfindahlO. C., “Some Fundamentals of Mineral Economics,”Land Economics (May 1955), pp. 131–138.
4.
Marginal net cash flows may be influenced not only by changing prices, but also by changing costs of production. See GordonR. L., op. cit.
5.
See DasguptaP.SenA.MarglinS., Guidelines for Project Evaluation (New York: United Nations, 1972), pp. 24–25 and 158–160.
6.
See HerfindahlO. C., “Goals and Standards of Performance for the Conservation of Minerals,”Quarterly of the Colorado School of Mines (October 1962), pp. 153–171; and ScottA., Natural Resources: The Economics of Conservation (Toronto, 1955), pp. 88–98.
7.
For a more detailed discussion on this, see GordonR. L., “Conservation and the Theory of Exhaustible Resources,”Canadian J. of Econ. and Polit. Science (August 1966), pp. 319–326.
8.
See GordonR. L., op. cit. in footnote 2, p. 283.
9.
See SwalmR., “Utility Theory—Insights into Risk Taking,”Harvard Business Review (November-December 1966), pp. 123–136; and DonaldsonG., “Financial Goals: Management versus Stockholders,”Harvard Business Review (May-June 1963), pp. 116–129.
