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Full-Text Articles in Social and Behavioral Sciences
Property Rights And Taxation In The Australian Minerals Sector, Ted C. Bergstrom
Property Rights And Taxation In The Australian Minerals Sector, Ted C. Bergstrom
Ted C Bergstrom
Mineral deposits in Australia are generally owned by states. Exploration licenses and mining leases are granted to private firms. They are not sold to the highest bidder but are awarded according to a system of "work program bidding". Such bids entail a promise to undertake a certain amount of exploration expenditure within a specified time interval. Typically a firm that finds a commercially viable mineral deposit is given preference in obtaining a lease to exploit this deposit, but the lease is subject to the conditio that the firm spend at least some specified minimum on developing the lease within a …
Efficiency-Inducing Taxation For A Monopolistically Supplied Depletable Resource, Ted Bergstrom, John Cross, Dick Porter
Efficiency-Inducing Taxation For A Monopolistically Supplied Depletable Resource, Ted Bergstrom, John Cross, Dick Porter
Ted C Bergstrom
We show that for a depletable resource, if the competitive time path of prices is known, and if the profit function is concave, then there is an easily described time path of taxes and/or subsidies that would induce a monopolist to follow an efficient time path of extraction.