By Todd H. Otis
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Additional resources for A review of nuclear energy in the United States: hidden power
Here attention will be confined to a simpler case in which a constant environment determines a natural equilibrium stock and in which adjustment from a disequilibrium position is smooth. A logistic growth process is generally assumed (see, for example, Crutchfield and Pontecorvo, 1969): s n = as (s - s). g. food supplies) places a steadily increasing brake as the eqUilibrium stock is approached. This relation has been found to be a reasonable approximation to a wide variety of biological phenomena (see Pielou, 1969) except at low stock levels.
This is just what is required to stimulate the process of early adjustment. But while one can assert that heterogeneity does something to facilitate smooth adjustment, one cannot be sure that it will do enough. 3). The firm line shows the Malthusian case: marginal production /. ~ x ,/ Q) (ij c: '§ to ~ ", ", / /: / :. ;' I :. ,/ .. '.... I! ,/ .... ' r'-' .. _. / " ... -,~:;) .... 3 Malthusian and Ricardian scarcity costs are constant until, suddenly at X, all resources are in use and costs rise to infinity.
They begin with the 'strong' test of economic scarcity: in the absence of various alleviating mechanisms, increasing scarcity, involving pressing ever more inferior resources into use, 'reveal[s] itself in an increasing trend of unit cost of extractive products'. a. a. from 1920 to 1957. Of the many individual resource products, nearly all showed a decline in unit costs, the only significant exception being forestry. Apparently the effects of employing lower-quality resources were outweighed by technical progress and capital accumulation.
A review of nuclear energy in the United States: hidden power by Todd H. Otis