A martingale characterization of the price of a nonrenewable resource with decisions involving uncertainty
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Publication:1064957
DOI10.1016/0022-0531(85)90047-XzbMath0576.90020MaRDI QIDQ1064957
Stanley R. Pliska, Sudhakar D. Deshmukh
Publication date: 1985
Published in: Journal of Economic Theory (Search for Journal in Brave)
martingale; submartingale; supermartingale; nonrenewable resource; optimal consumption and exploration
90C39: Dynamic programming
91B62: Economic growth models
93E20: Optimal stochastic control
60G44: Martingales with continuous parameter
91B76: Environmental economics (natural resource models, harvesting, pollution, etc.)
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Cites Work
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