On the development of a substitute for an exhaustible natural resource

1984 ◽  
pp. 123-143
Author(s):  
MURRAY C. KEMP ◽  
NGO VAN LONG
Keyword(s):  
Natural Resource ◽  
Exhaustible Natural Resource

scholarly journals On the determination of optimal time horizon in a control problem in natural resource economics

1995 ◽  
Vol 18 (3) ◽  
pp. 617-620 ◽  
Author(s):  
Ramesh C. Kumar ◽  
Fadle M. Naqib
Keyword(s):  
Control Problem ◽  
Natural Resource ◽  
Time Horizon ◽  
Resource Economics ◽  
Utility Functions ◽  
Natural Resource Economics ◽  
Optimal Time ◽  
Exhaustible Natural Resource

This paper is concerned with issues relating to the determination of optimal time horizon in a typical control problem of optimal extraction of an exhaustible natural resource. The paper extends the recent Highfill-McAsey results to cover all strictly concave utility functions.

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