Towards realistic microeconomic models of mineral exploitation. II (Q1088877)
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scientific article; zbMATH DE number 4001822
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Towards realistic microeconomic models of mineral exploitation. II |
scientific article; zbMATH DE number 4001822 |
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Towards realistic microeconomic models of mineral exploitation. II (English)
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1986
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[For part I see the preceding review.] It is shown that, with representative unit cost functions, two optimal levels of ore depletion may be possible. Properties of the two solutions for quadratic unit cost and extraction at a rate close to the optimum for the mine are found. It transpires that both solutions may be physically realistic and, in the light of this, a numerical method for finding optimal exploitation strategies is developed. The approach is primarily mathematical.
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mineral exploitation strategy
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quadratic unit cost
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optimal exploitation strategies
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