Resource Extraction when a Future Substitute has an Uncertain Cost

DOI10.2307/2297265zbMath0397.90029OpenAlexW1970328986MaRDI QIDQ4181562

Michael Hoel

Publication date: 1978

Published in: The Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: http://hdl.handle.net/1721.1/64136

zbMATH Keywords

Resource DepletionRisk AversionCompetitive Extraction PathsFuture Substitute

Mathematics Subject Classification ID

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

Related Items

An infinite-horizon multistage dynamic optimization problem, An entropy model of environmental pollution and economic growth