Capital investments and resource extraction from non-identical deposits (Q1119156)
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scientific article; zbMATH DE number 4097093
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Capital investments and resource extraction from non-identical deposits |
scientific article; zbMATH DE number 4097093 |
Statements
Capital investments and resource extraction from non-identical deposits (English)
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1989
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Taking account of necessary investments in physical capital, we characterize the optimal investment and extraction program for exploiting several non-identical deposits of an exhaustible resource. Under the given technology assumptions, capital investments will be concentrated up front if deposits are identical. In the case of non-identical deposits, it may be optimal to have investments spread out over time. Moreove, the smallest deposit is depleted first.
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environmental economics
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resource extraction
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optimal investment and extraction program
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non-identical deposits
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exhaustible resource
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0.8095572
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0.79936284
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0.79768103
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0.79528356
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0.79285747
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0.79057837
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