Existence and transversality conditions for a general `unbounded-horizon' model of the mining firm

DOI10.1016/0165-1889(86)90004-7zbMath0641.90031OpenAlexW2007561742MaRDI QIDQ1101004

Michael A. Toman

Publication date: 1986

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0165-1889(86)90004-7

zbMATH Keywords

resource extractionoptimal programsunbounded horizoncompetitive or monopolistic mining firmdiscoveries of new reservesincomplete resource exhaustioninfinite-horizon transversality conditionsstate-dependent resource demandtechnical innovation

Mathematics Subject Classification ID

Economic growth models (91B62) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76)

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