| Abstract: | Extensive literatures exist on both regional development and the optimum use of nonrenewable resources over time, but the two have not been melded to consider the effect of combining the optimization of resource exploitation with optimization of population growth and infrastructure investment. A model incorporating these dimensions of regional growth is analyzed using control theory to characterize the optimal time paths of the source-related investment, resource use, and infrastructure investment. An example of nonrenewable groundwater use in the Colorado High Plains region is analyzed to show the shortcomings of existing regulatory schemes. |
