@article{Sadorsky:275216,
      recid = {275216},
      author = {Sadorsky, P. A. },
      title = {Measuring Resource Scarcity in Non-renewable Resources  with Inequality Constrained Estimation},
      address = {1989-04},
      number = {2118-2018-4628},
      series = {IER No. 746},
      pages = {38},
      year = {1989},
      abstract = {In this paper annual Canadian exploration data are used to  estimate a multiple-output translog exploration cost  function. A new definition of depletion is introduced and  its estimated coefficient is found to be statistically  significant. Another novel feature is the application of  Monte Carlo integration to ensure the estimated cost  function satisfies concavity and monotonicity. The *fitted  cost function parameters are then used to obtain estimates  of the marginal costs of exploration for oil and gas. Our  estimated marginal exploration costs are smaller than  previous* studies' because we have allowed for technical  progress which offsets the depletion effects. These  marginal cost estimates are employed, along with previous  estimates of exploration rents, to measure resource  scarcity. We find some evidence for the increased scarcity  of oil and gas in Alberta- • For oil there is a 10.07. per  year increase in scarcity along' the trend line while for  natural gas there is a 1.87. per year increase in scarcity  along, the Crend line.},
      url = {http://ageconsearch.umn.edu/record/275216},
      doi = {https://doi.org/10.22004/ag.econ.275216},
}