This article has been reviewed by the following Topic Editor: Peter Saundry
Harold Hotelling (1895-1973), an American economist, is considered a pioneer in the field of mathematical statistics and economics. In 1931, he published The Economics of Exhaustible Resourcesin which he argued that the net price of a nonrenewable resource such as oil or copper would rise over time at the rate of interest. Depletion of the resource, absent technical change, would generate a scarcity rent that grew over time. The Hotelling model was among the first to use the calculus of variations, and it would form the foundation for the theory of exhaustible resources in neoclassical economics. Hotelling was also very active in promoting the use of statistics education in a wide range of disciplines.
Cutler Cleveland (Lead Author);Peter Saundry (Topic Editor) "Hotelling, Harold". In: Encyclopedia of Earth. Eds. Cutler J. Cleveland (Washington, D.C.: Environmental Information Coalition, National Council for Science and the Environment). [First published in the Encyclopedia of Earth January 17, 2009; Last revised Date January 17, 2009; Retrieved February 9, 2012 <http://www.eoearth.org/article/Hotelling,_Harold>
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The Encyclopedia of Earth Cutler J. Cleveland is the founding Editor-in-Chief of the Encyclopedia of Earth. Dr. Cleveland is currently a Professor in the Department of Geography and Environment at Boston University, with joint appointments in the Center for Energy and Environmental Studies and the Pardee Center for the Study of the Longer Range Future. He also is a Senior Fellow at the National Council for Science and the Environment in Washington D.C. Dr. Cleveland is als ... (Full Bio)
Harold Hotelling (1895-1973), an American economist, is considered a pioneer in the field of mathematical statistics and economics. In 1931, he published The Economics of Exhaustible Resourcesin which he argued that the net price of a nonrenewable resource such as oil or copper would rise over time at the rate of interest. Depletion of the resource, absent technical change, would generate a scarcity rent that grew over time. The Hotelling model was among the first to use the calculus of variations, and it would form the foundation for the theory of exhaustible resources in neoclassical economics. Hotelling was also very active in promoting the use of statistics education in a wide range of disciplines.
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Editor-in-Chief
The Encyclopedia of Earth Cutler J. Cleveland is the founding Editor-in-Chief of the Encyclopedia of Earth. Dr. Cleveland is currently a Professor in the Department of Geography and Environment at Boston University, with joint appointments in the Center for Energy and Environmental Studies and the Pardee Center for the Study of the Longer Range Future. He also is a Senior Fellow at the National Council for Science and the Environment in Washington D.C. Dr. Cleveland is als ... (Full Bio)
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