Resource Extraction when a Future Substitute has an Uncertain Cost

DOI10.2307/2297265MaRDI QIDQ4181562zbMATH OpenOpenAlexFDO

Authors Michael Hoel

Publication date 1978

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

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

zbMATH Keywords

Competitive Extraction PathsFuture SubstituteResource DepletionRisk Aversion

Mathematics Subject Classification ID

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

Cited in

(2)

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

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