Joint production of substitutable, exhaustible resources, or: Is flaring gas rational?

DOI10.1016/S0165-1889(87)80003-9MaRDI QIDQ1102168zbMATH OpenWikidataFDO

Authors Franz Wirl

Publication date 1987

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

zbMATH Keywords

optimal controlPontryagin's maximum principlejoint productionmonopolistexploitation of an exhaustible resourceoptimal date of depletionproduction policy

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Production theory, theory of the firm (91B38) Optimality conditions for problems involving ordinary differential equations (49K15) Economic growth models (91B62)

Recommendations

• Price Deregulation and the Production of Depletable Resources
• The Pricing of Durable Exhaustible Resources: Comment
• Maximization of the accumulated extraction in a gas fields model
• A well-based cost function and the economics of exhaustible resources: The case of natural gas
• Exhaustibility and the durable-goods monopolist

Cites work

• scientific article; zbMATH DE number 3815304 (Why is no real title available?)
• scientific article; zbMATH DE number 3568288 (Why is no real title available?)
• scientific article; zbMATH DE number 3082712 (Why is no real title available?)
• Market Structure and Resource Extraction under Uncertainty
• Market structure and resource depletion: A contribution to the theory of intertemporal monopolistic competition
• Monopoly resource extractions under the presence of predetermined substitute production
• Rybczynski's Theorem in a Context of Exhaustible Resources: The Case of Time-Contingent Prices

Cited in

(2)

• Economic analysis of associated oil gas markets
• New Qualitative Properties in the Competitive Nonrenewable Resource Extracting Model of the Firm

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