“Why do rivals always seem to crowd the same space?” This old question—often asked of coffee shops, gas stations, and political parties—has found new relevance far from the world of retail. On the ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

In an article written in 1931, the American economist and mathematician Harold Hotelling published a model to describe the evolution of the prices of non-renewable resources. Following the 1973 oil ...

A model is introduced for the description of natural resources price paths, which, in contrast to the existing literature, captures non-linear trends by means of a simple trigonometric function. This ...

In the past few weeks, oil prices have fallen to record lows. This development was not predicted by the Hotelling rule, an equation proposed in 1931 that remains central to the economics of natural ...