On optimal extraction under asymmetric information over reclamation costs

DOI10.1016/J.JEDC.2020.103987zbMath1475.91237OpenAlexW3084085819MaRDI QIDQ2246726

Pauli Lappi

Publication date: 16 November 2021

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

Full work available at URL: https://doi.org/10.1016/j.jedc.2020.103987

zbMATH Keywords

asymmetric informationdynamic optimizationexhaustible resourcesoptimal contractstock pollutionpollution taxsecond-bestreclamation

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Contract theory (moral hazard, adverse selection) (91B41)

Cites Work

• Unnamed Item
• How to do comparative dynamics on the back of an envelope in optimal control theory
• The length of optimal extraction programs when depletion affects extraction costs
• Optimal production and reclamation at a mine site with an ecosystem constraint
• On Imperfect Information and Optimal Pollution Control
• Optimal Resource Royalties with Unknown and Temporally Independent Extraction Cost Structures
• A DYNAMIC MODEL OF CLEANUP: ESTIMATING SUNK COSTS IN OIL AND GAS PRODUCTION

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