02675cam a22004338i 4500 21126767 OSt 20260228161818.0 m |o d | cr ||||||||||| 190808s2020 nyu ob 001 0 eng 2019032614 9781108588928 (epub) 9781108499330 (hardback) 21126767 DLC eng DLC rda pcc HC59.15 333.7 23 CON Conrad, Jon M., author. 15586 Natural Resource economics : analysis, theory, and applications / Jon M. Conrad, Cornell University, New York, Daniel Rondeau, University of Victoria, British Columbia. First Edition. 2002 New York : Cambridge University Press, 2020. xiv,345 P. ; 25 cm. text txt rdacontent computer c rdamedia online resource cr rdacarrier Includes bibliographical references and index. "Fisher (1904, p. 387) defined capital as "a stock (of wealth or property, or the value of either) existing at an instant of time." Fisher's conception of capital is inextricably linked to time. The value of a capital asset is derived from its potential to provide a flow of benefits through the production of goods and services. Fisher himself recognized natural resources as capital assets. To illustrate the relationship between stocks, flows, and time, he wrote "Capital of any kind always occupies a position, like that of a reservoir of water, intermediate between two flows, the inflow and outflow" (Fisher, 1897, p.512). The modern treatment of natural resources in economics is squarely constructed on this notion that resources are a reservoir of wealth, a production factor from which products and services (marketed or not) can flow over time. In some cases, like water in a reservoir, there may indeed be an inflow as well as an outflow, but this need not always be the case"-- Provided by publisher. Description based on print version record and CIP data provided by publisher; resource not viewed. Natural resources Management Mathematical models. 15587 Economic development Mathematical models. 15588 Rondeau, Daniel, 1966- author. 15589 Print version: Conrad, Jon M.. Resource economics First Edition. New York : Cambridge University Press, 2020. 9781108499330 (DLC) 2019032613 7 cbc orignew 1 ecip 20 y-gencatlg ddc BOOK 6133 6133 0 0 ddc 0 0 MAIN MAIN 2026-02-28 0 333.7 CON 14665 2026-02-28 16:19:34 2026-02-28 BOOK 0 0 ddc 0 0 MAIN MAIN 2026-02-28 0 333.7 CON 14666 2026-02-28 16:19:34 2026-02-28 BOOK