The Optimal Extraction Path of Exhaustible Resource with Environment Cost
2013 ◽
Vol 807-809
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pp. 873-879
Keyword(s):
Assuming in the perfectly competitive market, using the optimal control theory and making the social welfare as the maximization target, the paper studies on environment cost which impacts the optimal extraction path of exhaustible resource. The special case result shows that: the time of optimal exhaustion increases with the addition of marginal environmental cost, the price has negative linear correlation with the marginal environmental cost, and the optimal extraction has positive linear correlation with the marginal environmental cost.
2014 ◽
Vol 522-524
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pp. 783-786
1975 ◽
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pp. 256
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1989 ◽
Vol 4
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pp. 113-121
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2011 ◽
Vol 69
(1)
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pp. 91-99
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1960 ◽
Vol 64
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