Joint production of substitutable, exhaustible resources, or: Is flaring gas rational?

DOI10.1016/S0165-1889(87)80003-9zbMath0643.90016WikidataQ59212131 ScholiaQ59212131MaRDI QIDQ1102168

Franz Wirl

Publication date: 1987

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

zbMATH Keywords

optimal controlPontryagin's maximum principlejoint productionmonopolistexploitation of an exhaustible resourceoptimal date of depletionproduction policy

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38) Economic growth models (91B62) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Optimality conditions for problems involving ordinary differential equations (49K15)

Cites Work

• Monopoly resource extractions under the presence of predetermined substitute production
• Market structure and resource depletion: A contribution to the theory of intertemporal monopolistic competition
• Rybczynski's Theorem in a Context of Exhaustible Resources: The Case of Time-Contingent Prices
• Market Structure and Resource Extraction under Uncertainty
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