This book investigates the complex economic relationships between natural resources and their potential for substitution. It addresses the critical question of how economists can effectively model and measure the degree to which one natural resource can be replaced by another in production processes. The work draws upon econometric techniques and empirical data to analyze these substitution possibilities, aiming to provide a robust framework for understanding resource economics.

This work is recognized as a significant contribution to the field of resource economics, particularly for its rigorous econometric approach. It is likely to be of interest to academic economists, researchers, and policymakers concerned with natural resource management and economic modeling. The book's focus on quantitative methods suggests a dense, analytical text aimed at specialists.