简介:Therearefewpapersintheliteraturefocusingontheissueoftheoptimaldepletionofexhaustibleresourcesintheframeworkofvariabletimepreference.Thispaperattemptstoanalyzethepureconsumptionofexhaustibleresourceunderhyperbolictimepreference,andtodiscusstheoptimaldepletionrateandtheeffectoftheprotectionoftheexhaustibleresourceunderdifferentcommitmentabilities.Theresultsofmodelshowthatthecaseofthehyperbolicdiscountwiththefullcommitmentofthegovernmentisequivalenttothecaseofconstantdiscountofthesocialplannerproblem.Inthatcase,theoptimaldepletionrateandtheinitialconsumptionofexhaustibleresourcearetheslowest.Onthecontrary,theyarethehighestandthemyopicbehaviorsleadtoexcessiveconsumptionofexhaustibleresourcesinevitablywithoutcommitment.Otherwise,inthecaseofpartialcommitment,theresultsarebetweenthecasesoffullcommitmentandofnocommitment.Therefore,withthehyperbolictimepreference,theoptimaldepletionrateofresourcedependsonthecommitmentability.Highercommitmentabilityleadstolowereffectiverateoftimepreference,andconsequently,lowerdepletionrateandlowerinitialdepletionvalue.Theimprovementofcommitmentabilitycandecreasetheimpatienceandmyopiabehaviors,andcontributetotheprotectionoftheexhaustibleresources.