Existence and transversality conditions for a general `unbounded-horizon' model of the mining firm

DOI10.1016/0165-1889(86)90004-7MaRDI QIDQ1101004zbMATH OpenOpenAlexFDO

Authors Michael A. Toman

Publication date 1986

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0165-1889(86)90004-7

zbMATH Keywords

competitive or monopolistic mining firmdiscoveries of new reservesincomplete resource exhaustioninfinite-horizon transversality conditionsoptimal programsresource extractionstate-dependent resource demandtechnical innovationunbounded horizon

Mathematics Subject Classification ID

Economic growth models (91B62) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76)

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Cites work

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Cited in

(2)

• Necessity of a transversality condition in a firm's intertemporal optimization
• Paradox of Firm Theory and Sustainable Development in the Mining Industry: Approximation Through the Managing Leader

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