Diffusion Approximation in Arrow’s Model of Exhaustable Resources

DOI10.1080/02522667.1986.10698858MaRDI QIDQ3755201zbMATH OpenOpenAlexFDO

Authors Darrell Duffie, Michael Taksar

Publication date 1986

Published in Journal of Information and Optimization Sciences (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1080/02522667.1986.10698858

zbMATH Keywords

diffusion processbang-bangBellman equationinstantaneous controlnatural resourceexploration intensityMarkovian stochastic dynamic programmingoptimal exploration strategy

Mathematics Subject Classification ID

Diffusion processes (60J60) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Economic growth models (91B62)

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• Instantaneous Control of Brownian Motion

Cited in

(2)

• scientific article; zbMATH DE number 1865386 (Why is no real title available?)
• scientific article; zbMATH DE number 4003870 (Why is no real title available?)

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